- www.dpi.vic.gov.au
VIVAnews – Indonesian Ministry of Energy and Mineral Resources seals investment commitments worth US$106.9 million through the auctions of nine oil and gas blocks. The government also obtained a signature bonus of US$9.58 million.
During the auctions, the government in fact offered 11 oil and gas blocks or work areas. However, only nine blocks have attracted the bidders.
The eleven blocks include Ranau, North East Madura, West Tanjung, Belayan, East Simenggaris, North Ganal, Babar Selaru, Obi, North Semai, West Berau and Semai IV. But two blocks, North Semai and West Berau were in demand.
"For North Semai there are two companies that took the documents and for West Berau, three companies. But none returned the documents because they seemed hesitant," said Director General of Oil and Gas, Evita Legowo, in Jakarta, Wednesday.
Evita said, commenting on the auctuions, the government appreciated that a number of small companies joined as bidders. The government deliberately set the situation as it aims at allowing national private companies to participate in oil and gas exploration.
The government is also currently finalizing the provision regarding incentives and disincentive to increase exploration and enhanced oil recovery (EOR) for consistent production sharing contracts.
"There are disincentives if they do not do something (exploration). Now we give the opportunity of exploration for the first three years," she explained.
The following are nine oil and gas blocks which were successfully put to auction:
1. Ranau Onshore Block located in Lampung was won by PT Prabu Energy Pty Ltd with an exploration commitment of US$8.6 million and the government’s signature bonus of US$1 million.
2. West Tanjung Block was won by PT Karya Inti Petroleum with an exploration commitment of US$3.6 million and a signature bonus of US$1 million.
3. Belayan Block, won by PT Karya Inti Petroleum with an exploration commitment of US$9.5 million and a signature bonus of US$1.050 million.
4. East Simenggaris Block, won by PT Cahaya Sumber Energy Pratama with an exploration commitment of US$11.550 million and a signature bonus of US$1.030 million.
5. North Ganal Block, won by the consortium of Niko Resources Ltd., PT Baruna Nusantara Energy, Statoil ASA, Eni Indonesia Ltd, GDF Suez New Project Indonesia with exploration commitment totaling US$31.4 million with a signature bonus of US$1 million.
6. Babar Selaru Block, won by the consortium of Inpex Corporation and Jogmec with total investment commitment of US$31.5 million and the government’s signature bonus of US$1.5 million.
7. Obi Block located in Halmahera offshore, won by a consortium of Niko Resources Overseas XII, Statoil ASA, and Manley NV with the value of exploration commitment of US$1.8 million and a signature bonus of US$1 million.
8. Semai IV Block, won by Murphy Overseas Ventures Inc. with investment commitment amounting to US$2.450 million and a signature bonus of US$1 million.
"The total commitment to exploration investment is US$106.9 million for three years while the signature bonus that the government will receive directly totals US$9.58 million," said Evita.
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