The Indonesian government will offer 24 new oil and gas blocks as well as nine coal bed methane areas later this month in an effort to boost output of the fuels, a government official said Tuesday.
"The number of the blocks could be higher," Evita Legowo, the director general of oil and gas at the Ministry of Energy and Mineral Resources told reporters.
Legowo said the government will offer East Asahan, North Kuantan, Indragiri Hilir, East Jabung, SW Sumatra III, SW Sumatra IV, North Merak, West Kangean, East Bangkanai, West Sebuku, SE Mandar, Gorontalo Basin I, Gorontalo Basin II, Gorontalo Basin III, Gorontalo Basin IV, SW Bird's Head, Arguni I dan Arguni II blocks via a regular tender process.
The Gurita, Sembilang, Kisaran II, South Betung, Sumbagsel dan Arafura Sea II blocks will undergo a direct bidding process, Legowo said.
Recommended Reading
EQT Ups Stake in Appalachia Gas Gathering Assets for $205MM
2024-02-14 - EQT Corp. inked upstream and midstream M&A in the fourth quarter—and the Appalachia gas giant is looking to ink more deals this year.
EQT Deal to ‘Vertically Integrate’ Equitrans Faces Steep Challenges
2024-03-11 - EQT Corp. plans to acquire Equitrans Midstream with $5.5 billion equity, but will assume debt of $7.6 billion or more in the process, while likely facing intense regulatory scrutiny.
Ohio Oil, Appalachia Gas Plays Ripe for Consolidation
2024-04-09 - With buyers “starved” for top-tier natural gas assets, Appalachia could become a dealmaking hotspot in the coming years. Operators, analysts and investors are also closely watching what comes out of the ground in the Ohio Utica oil fairway.
ONEOK CEO: ‘Huge Competitive Advantage’ to Upping Permian NGL Capacity
2024-03-27 - ONEOK is getting deeper into refined products and adding new crude pipelines through an $18.8 billion acquisition of Magellan Midstream. But the Tulsa company aims to capitalize on NGL output growth with expansion projects in the Permian and Rockies.
Daugherty: Feds Take Aggressive Posture on Oil, Gas Mergers
2024-02-01 - Newly released guidelines by the Department of Justice and Federal Trade Commission suggest that a post-deal, combined market share of more than 30% is potentially problematic.