Indonesia Offers Four New Offshore Blocks

July 26, 2019

© erikdegraaf / Adobe Stock
© erikdegraaf / Adobe Stock

Indonesia's energy ministry offered four new oil and gas blocks including Cendrawasih VIII block off Papua shore which is estimated to have 3.8 trillion cubic feet of gas and 1 billion barrels of oil resources, deputy energy minister Arcandra Tahar told reporters on Friday.

The four blocks were offered after meetings with potential investors to determine the most attractive oil and gas assets for the companies, Tahar said.

"The government is trying to be more proactive to bring in investment so that these oil and gas blocks can attract investors," he said.

The government also offered East Gebang block offshore North Sumatra which has estimated resources of 1.3 trillion cubic feet of gas.

Belayan I block with 2.5 billion barrels of oil estimated resources and West Tanjung I block with 150 million barrels resources were also among the offerings.


(Reporting by Wilda Asmarini; Writing by Fransiska Nangoy; Editing by Edmund Blair)

Categories: Energy Oil Asia Natural Gas


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