Indonesia’s energy ministry launched a bidding round on four oil and gas blocks on Nov. 23, as the country seek more investments in its upstream oil and gas sector, the ministry said in a statement.
Southeast Asia’s biggest economy set a target to reach 1 million bbl/d of oil and 12 billion scf/d (Bscf/d) gas in 2030 to meet national energy demand, Energy minister Arifin Tasrif said.
The four blocks offered in the second round of bidding this year have combined estimated resources of 3,730 million barrels of oil and 300 Bcf gas, energy ministry data showed.
The offered blocks are Sangkar block in offshore and onshore Central and East Java, Bunga block in offshore East Java, Peri Mahakam block in offshore and onshore East Kalimantan and Bose block in onshore and offshore East Nusa Tenggara.
The government also awarded West Kampar block to a consortium of Aserra Petrolindo Gemilang and SPR Langgak, that agreed to invest $32.5 million in exploration and exploitation activities and $250,000 signature bonus.
2022-12-05 - Here’s a roundup of the latest E&P headlines including field upgrade plans being approved and a development milestone for a Senegalese field from the past week in the upstream oil and gas industry.
2022-11-18 - Even though the U.S. rig count increased during most months over the past two years, weekly increases have averaged zero since the start of the pandemic in March 2020, helping keep oil production below record levels seen before the pandemic.
2022-11-04 - U.S. oil rigs rose to their highest count since March 2020, while gas rigs fell to their lowest count since late July 2022, according to Baker Hughes.
2022-10-28 - Patterson-UTI plans on adding four rigs to its 132 total count in fourth-quarter 2022.
2022-11-11 - According to Baker Hughes, the U.S. oil rig count rose nine to 622 during the week of Nov. 11, while the gas rig count remained steady at 155.