Indonesia is offering three new unconventional oil and gas blocks on the islands of Sumatra and Kalimantan to potential bidders, an energy ministry official said on Oct. 31.
The assets on offer are one shale gas block in East Kalimantan, with potential resources of 7 trillion cubic feet of gas and 21 million barrels of oil, as well as two coalbed methane blocks in South Sumatra.
Bidders can propose a production split or make an upfront payment for the right to develop the block, Tunggal, an upstream director at the directorate-general of oil and gas who goes by one name, told reporters.
Previously, any split in production was predetermined by the Indonesian government.
Permian oil production is expected to rise by 40,000 barrels per day to about 4.18 million barrels per day in April.
Spirit Energy has brought the Oda Field online in the Norwegian sector of the North Sea five months ahead of schedule and under budget.
Petrobras and partners have invested roughly US$30 billion in the exploration and development of the field.