JAKARTA (Commodity Online) : Indonesia's Energy ministry said Wednesday it will auction 35 new oil and gas fields later in the year.
In a statement, country's Energy ministry announced the maximum 35 blocks planned to be auctioned this year. Of the 35 blocks, 19 are to be offered under regular tender procedures and the remaining 16 blocks are planned to be offered under joint study mechanisms.
The ministry added, it is announcing the blocks to get responses from the oil and gas contractors. The blocks reaching the actual tender process could be only 15 or 20 blocks, depending on the responses of contractors.
Under the latter tender method, interested investors may propose to the government to undertake a joint study to assess oil and gas reserves in one or more blocks.
The 19 blocks planned to be offered under the regular tender are: East Natuna, SE Baronang, Nias I, Nias II, Tanjung Jabung, Sunda Strait I, Sunda Strait II, Sunda Strait III, West Kangean I, West Kangean II, South Kangean I, South Kangean II, SE Mandar, SW Makassar, West Sebuku, Saliki, East Tarakan, SW Bird Head and Wokam.
The oil and gas blocks planned to be offered under the joint study arrangements include: North Sokang, NW Natuna, Gurita, Sumbagsel (southern Sumatra).
Indonesia failed to find investors for most of the oil and gas blocks offered last year.