RI delays offering 10 new oil, gas areas until November

Indonesia, Southeast Asia's biggest oil producer, delayed by a month inviting bids for 10 new oil and gas exploration areas after Susilo Bambang Yudhoyono's victory in the country's presidential election.

"Investors can get the bidding documents in the first week of November," Novianto M. Thaib, director of exploration and production at the energy ministry, told reporters in Bali. "The documents are ready, we just want to wait for the new government."

Susilo is due to take office on Oct. 20. He is expected to name a new cabinet on the same day.

The government will offer one area offshore West Natuna, one off northeast Ambalat, two off West Papua, three off Sulawesi, one off northeast Java, one off Buton and one in onshore Sumatra.

The government still plans in mid-October to name winners of 18 new areas offered earlier this year, Novianto said. The government received bids for 18 out of 21 areas offered, he said. The Rote offshore, the Selaru and the Ujungkulon failed to draw bids, Novianto said.

Indonesia is offering exploration rights for new oil and gas areas as part of its move to find new reserves and stem a decline in production. (*)