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Indonesia awards 11 new oil, gas blocks
Indonesia Wednesday awarded 11 new oil and gas blocks to investors in a bid to boost its declining oil and gas output, Dow Jones reported.
The country’s energy and mineral resources ministry said that it awarded the South Sesulu block to Hess (Indonesia South Sesulu), the Kumawa block to a consortium comprising Marathon Indonesia New Venture Ltd., Indonesia Kumawa Energy Ltd. and Komodo Energy LLC.
Meanwhile, the Cendrawasih block was awarded to a joint venture between Esso Exploration International Ltd., and Biak Petroleum LLC.
The blocks were among 15 the government offered to investors via direct bidding. Only 11 blocks attracted bidders, the ministry said.
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