Wednesday, 19 February 2020

Ministry Auctions-off Two Oil and Gas Blocks



Petir Garda Bhwana

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  • TEMPO.CO, Jakarta - The Energy and Mineral Resources Ministry had auctioned off two of the five auctions for conventional oil and gas working areas to two operators. The two working areas are the Anambas exploration block and the Selat Panjang production block.

    The Anambas Block was won by Kufpec Regional Ventures (Indonesia) Ltd., while Selat Panjang is taken by the consortium of Sonoro Energy Ltd-PT Menara Global Energi.

    Read also: China's Natural Gas Consumption Grows in Q1

    Deputy Energy Minister Arcandra Tahar said the total investment commitment values of the two working areas reached US$109.2 million plus a signature bonus worth US$7.5 million.

    "The remaining three work areas that were not taken buy bidders will become available work areas and will be offered again in the next period of offering," Arcandra Tahar said on Tuesday, May 7.