Ministry to revise regulation on oil, gas block tender
Tuesday, October 3 2017 - 03:00 AM WIB
The Ministry of Energy and Mineral Resources is currently revising Ministerial Regulation No 35/2008 on the mechanism to determine and offer oil and gas working areas to investors in a bid to woo more participants in oil and gas block tender.
Secretary of the ministry?s Directorate General of Oil and Gas, Susyanto said on Monday that the revision will include an extension of deadline in the submission of tender participation document.
He said that some investors have complained about the relatively limited time given to them in making proper assessment of the oil and gas blocks being offered by the government.
Under the current regulation, investors participating in the regular tender mechanism are required to submit the documents within 120 days since the tender was announced. Meanwhile, those participating in the direct appointment tender mechanism are required to submit the documents within 45 days.
?Because they considered the time given was too short, and thus could not make comprehensive evaluation, they then declined to participate in the tender,? Susyanto said. (*)