Indonesia Awards Nine Oil, Gas Blocks

© Adobe Stock/Peter Hermes Furian

Indonesia awarded nine oil and gas blocks to several companies, with an investment commitment valuing nearly $85 million, its Energy Ministry said on Wednesday, with the blocks expected to help the country to achieve its energy security goals.

Here are some key points from the ministry statement:

• The ministry awarded Bintuni and Drawa blocks located in offshore West Papua to a consortium consisting of four companies: BP Exploration Indonesia Ltd, MI Berau B.V., CNOOC Southeast Asia Ltd, and Indonesia Natural Gas Resources Muturi Inc.

• The Bintuni block has estimated resources of around 2.1 trillion cubic feet of gas while Drawa has estimated resources of around 360 billion cubic feet of gas.

• Indonesia also awarded Southwest Andaman block in offshore Aceh to the UAE's Mubadala Petroleum Limited. The block is projected to have around 3 tcf of gas potential.

• A consortium consisting of Japan's Inpex Corporation and BP Exploration Indonesia Limited was given Barong block, which is located off the coast of East Java and South Sulawesi and has gas potential of around 2.9 tcf.

• The government awarded Nawasena block, which is located in East Java province, to a unit of Medco Energi Internasional, Medco Energy Linggau.

(Reuters)