Monday, May 17, 2010

Indonesia awards oil, gas blocks to several firms

JAKARTA, (Reuters) - Indonesia has awarded 14 oil
and gas blocks to firms including Spanish giant Repsol (REP.MC)
and a consortium of Talisman Energy Inc (TLM.TO) and Thailand's
PTT Exploration and Production PTTE.BK, an official said on
Friday. The move is part of Indonesia's efforts to boost investment
and oil and gas reserves in future as current production
dwindle. Indonesia has turned into a net importer of crude oil in
recent years as production has slumped after a failure to tap
new fields fast enough. The country has been offering new
exploration rights and financial incentives for oil fields in a
bid to stem a steady decline in production. "There are potential of oil and gas reserves in those 14
areas that we have awarded, but we have to wait until they
conduct exploration," Edy Hermantoro, the upstream director at
the energy ministry, told reporters. "Indonesia is still attractive to foreign firms as there
are many foreign companies who have now won tenders," he added. Following are the names of the oil and gas blocks that have
been awarded and the companies: Oil/gas blocks Company -Cendrawasih Bay II, offshore Papua
Consortium Repsol and Niko Asia
-Cendrawasih Bay III, offshore Papua Consortium Repsol and Black Gold
-Cendrawasih Bay IV, offshore Papua Repsol and Black Gold
-South Mandar, offshore Makassar Strait Consortium Talisman and Thailand's PTTEP
-Sadang, offshore Makassar Strait Talisman and PTTEP
-South Sageri, offshore Makassar Strait Talisman and PTTEP
-Malunda, offshore Makassar Strait PTTEP -Puri, onshore
South Sumatra Local firm PT Sargas -Sakakemang,
onshore South Sumatra Local firm Cakra Nusa Darma -Sunda Strait I,
offshore West Java Komodo Energy and Niko Resources -North
Madura, offshore East Java Sea Baruna Recovery Energy and Australian AWE Ltd
-Mandala, offshore East Java Local firm Bumi Hasta Mukti and Fortune
-Karapan, offshore East Java PT Leogryph Indonesia
-Long Hubung, Long Bangun onshore Kutai PT Kalisat Energi Nusantara
(Reporting by Muklis Ali; Editing by Sara Webb)

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