Indonesia Offers 14 Oil, Gas Blocks to Investors

Indonesia will offer 14 oil and gas blocks for bidding, according Energy Ministry's director general of oil and gas said in Jakarta Monday.
Most of the blocks are located in the eastern part of Indonesia.
"We are offering a new scheme," Tempo, a local news outlet, quoted I Gusti Nyoman Wiratmaja as saying.
The work areas offered through regular auctions are South CPP, Suramana I, South East Mandar, and North Arguni. The Ministry is also offering direct exploration in the West Hill Block, Batu Gajah Dua Block, Kasongan Sampit Block, as well as Ampuh, Ebuny, Onin, and West Kaimana blocks.
Bungamas and Raja coal bed methane concessions will also be up for auction in addition to Batu Ampar shale gas area.
Under the new scheme, the government is offering investors to manage the working areas using an open bid split scheme based on contractors' proposals. For non-conventional work areas, contractors can also get a sliding scale scheme, whereas the amount is calculated based on daily production.
Seven work areas are being offered directly to companies and the rest is offered through open biddings. Investors can access the bidding documents starting from July 18 until August 22, 2016. The regular auction is open until October 28, 2016.
The ministry is also preparing six new working areas for the second phase auctions.
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Bangka, Jangkrik Projects in Indonesia to Begin Gas Production in Next 12 Months

Production of natural gas from two Indonesia offshore projects, Bangka and Jangkrik, is expected to commence this year and the next, respectively, Reuters reported Friday.
The Bangka project, majority owned by Chevron, will start operation in August this year, Wiratmaja Puja, the director general of oil and gas at Indonesia's Energy Ministry, told Reuters in an interview. While the Jangkrik project is 80 percent complete and is expected to commence operation in July 2017. The project is operated by Italy’s Eni.
Both projects are located in the Kutai Basin offshore East Kalimantan province.
Chevron has a 62% interest in the Bangka project. The project has a design capacity of 115 million cubic feet of natural gas and 4,000 barrels per day (bpd) of condensate, according to Reuters.
Eni owns 55% stake in Jangkrik project. The project is expected to produce 450 million cubic feet of natural gas and 4,400 bpd of condensate.

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