Oil and gas firms to invest $235.8m in Indonesia on new exploration blocks

Dozens of oil and gas companies which were named on Wednesday as the winners of the tender for oil and gas blocks in Indonesia will invest a total of US$235.788 million in exploration activities in the coming years.

The Ministry of Energy and Mineral Resources announced on Wednesday 18 companies and consortium that won the tender for oil and gas blocks across the country through direct offer system.

The government offered a total of 21 blocks through the direct offer system, which drew a total of 23 bidding documents from 8 consortiums and 15 individual companies.

Of the 23 bidding documents, 18 were considered as meeting requirements to become winners.

The individual companies and consortiums include a number of local companies and several foreign companies such as ConocoPhilips, Stat Oil ASA, Premier Oil, Kupfec.

The ministry said in a press release that the 18 investors are committed to invest a total of $233.788 million in three years of exploration activities, including $25.5 million for geological and geophysical studies, $37.77 million for 3D seismic survey over 1,780 square kilometers, $33.618 million for 2D seismic survey over 9,170 square kilometers and $138.9 million for drilling of 32 exploration wells.

In addition, the government will get a total of $31.45 in signature bonuses from the 18 investors within 30 days after signing their contracts. (Godang)

List of companies and consortiums that win direct offer tender: