Indonesia to offer 46 oil, gas blocks in 2013 bidding rounds

2013-03-16

The Indonesian government plans to offer 46 oil and gas blocks in its bidding rounds this year, an official said Friday.

The blocks will be offered through two or three bidding rounds this year, with the first one planned for May, upstream business director at oil and gas director general Naryanto Wagimin said.

The blocks comprise seven onshore blocks, 32 offshore blocks and the remaining seven blocks are located onshore and offshore, said Wagimin.

The government had invited bids for 42 blocks in 2012.

Indonesia is making concerted efforts to ramp up exploration and development activity in the country as it has seen its crude output fall because of natural decline at ageing fields. The country had pulled out its OPEC membership in 2008.

The government targets to produce 900,000 b/d of crude and condensate as well as 8.436 Bcf/day of natural gas in 2013.

Source: Platts

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