Indonesia awards nine blocks

International oil companies are expected to spend $411 million on drilling and seismic surveys over the next three years on the nine blocks awarded in Indonesia's recent bidding round.

Offshore staff

JAKARTA, Indonesia -- International oil companies are expected to spend $411 million on drilling and seismic surveys over the next three years on the nine blocks awarded in Indonesia's recent bidding round.

"We hope that the production sharing contracts (PSCs) will be signed in mid March at the latest," says Luluk Sumiarso, director general of oil and gas at Indonesia's Energy and Mineral Resources Ministry.

Three bids were rejected in the latest round, in which nine of 20 blocks were awarded.

The government expects to earn $31.45 million in signature bonuses from the nine blocks, Luluk says.

The blocks and the winners include:
• Southeast Mahakam, offshore Kalimantan, -- consortium of Total E&P and Inpex Corp.
• West Air Komering Petroleum, South Sumatra, -- PT Tiara Bumi
• Tuna, in Natuna Sea, -- consortium of Premium Oil Ltd. and Mitsui Oil Exploration
• Karama Offshore, West Sulawesi, -- consortium of Pertamina and Statoil ASA
• Mandar Offshore, West Sulawesi, -- Esso Exploration International
• Sageri Offshore, South Sulawesi, -- Talisman Ltd.
• Lampung 1 Offshore, Lampung, -- PT ANP Energy
• Ujung Kulon, Offshore/Onshore Banten, -- M3nergy Berhad
• Enrekang, Onshore South Sulawesi, -- PT Sigma Energy Petrogas

3/5/2007

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