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Ministry to Auction Work Areas Mid-February

Translator

Editor

6 February 2018 18:40 WIB

Energy and Mineral Resources Minister Ignasius Jonan (Left). TEMPO/Imam Hamdi

TEMPO.CO, Jakarta - The Energy Ministry will hold the first auctions for oil and gas work areas in mid-February. Deputy Energy Minister Arcandra Tahar said that 25 to 59 work areas will be offered in the auction.

“We will hold the auction some time between February 15 and 20,” he said in Jakarta last week.

 

He asked investors not to hesitate in participating, with regards to several companies’ reluctance to invest and take on projects using the gross split scheme.

Today, the ministry announced the bid winners of five conventional work areas that were auctioned in 2017. The companies are Mubadala Petroleum (SE Asia) Ltd, Konsorsium Premium Oil Far East Ltd, Kris Energy BV & Mubadala Petroleum, Tansri Madjid Energi, PT Saka Energi Sepinggan, and PT Saka Energi Indonesia.

The five companies will manage the work areas of Andaman I, Andaman II, Merak-Lampung, Pekawai and West Wamena. From the auctions, the state garnered investment commitments worth US$23.575 million plus signing bonuses amounting to US$3.25 million.

Budiarti Utami Putri

Oil and gas


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