Oil and Gas Investment Increases "passion", 2019 Oil and Gas Block Auctions Accessed 18 Companies

Source Press Release
Tags Licensing Rounds, Upstream Activities
Date April 19, 2019

The government auctioned five conventional oil and gas working areas (WK) phase I 2019. Since its opening on February 21, 2019, up to now it has been recorded 22 times from 18 companies from multi national and national. This shows that Indonesia's oil and gas (oil and gas) investment climate along with its accompanying policies. The five oil and gas WKs that were auctioned consisted of 2 (two) Oil and Gas WK Production and 3 (three) Exploration WK Oil and Gas.

"There are already 22 oil and gas blocks which have access to 18 multi-national and national companies, the oil and gas block auction is getting more" enthusiastic. "Some of the factors that have caused the" excitement "of oil and gas investment are, among others, the implementation of the scheme "gross split, a transparent and fast process, as well as business certainty for investors with a clear timeline," said Deputy Minister of Energy and Mineral Resources (ESDM), Arcandra Tahar, Thursday (18/4).

The Ministry of Energy and Mineral Resources auctioned the five phase I 2019 oil and gas working areas (WK) regularly using a new fiscal system, gross split. The five WKs offered consisted of two production WKs and three exploration WKs. Two production WKs are offered, namely, the West Kampar Block located on the mainland of Riau and North Sumatra and the Long Strait Block on the mainland of Riau and the second the Long Strait Block is on the mainland Riau.

Three exploration WKs were offered, namely, the Anambas Block off the Riau Islands coast, the West Ganal Block off the coast of East Kalimantan and finally, the West Kaimana Block on land and off the coast of West Papua.

Access to the five WK offer documents has been accessed from February 25 to April 24, 2019. Meanwhile, the entry of participation documents is not later than April 25, 2019. To access the biddocument the contractors are charged 5,000 US dollars as a form of company seriousness. (SF)

Source: EvaluateEnergy® ©2019 EvaluateEnergy Ltd