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Unsold Oil and Gas Blocks up For Another Auction This Year

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Editor

7 July 2017 21:16 WIB

Oil and gas director general Ign Wiratmaja Puja. Tempo Channel

TEMPO.CO, Jakarta - Indonesia’s oil and gas blocks are up for another auction this year as they attracted no investors last year. I Gusti Nyoman Wiratmaja, director general of oil and gas at the Energy and Mineral Resources Ministry, hopes that the auction will be held in the second semester of 2017.

“The oil and gas blocks will be up for another auction on the second semester,” Wiratmaja said on Friday, July 7.

The Ministry on Friday, July 7, pitched several working areas to investors operating in the oil and gas industry. Energy and Mineral Resources Deputy Minister, Arcandra Tahar, admitted that it was the first time the Ministry held such an event.

Wiratmaja said that the Ministry would evaluate the oil and gas blocks to find out the reason why the blocks seem to be unattractive to investors. According to Wiratmaja, the oil and gas blocks will be auctioned under the gross split scheme.

Arcandra Tahar said that a similar was held back in 2016. However, none had won the tender for the working areas. Arcandra hopes that the gross split scheme will make a difference this year.

DIKO OKTARA

Oil and gas


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