Indonesia awards Central Andaman, Amanah, Melati oil and gas blocks
JAKARTA, Sept 3 (Reuters) -Indonesia awarded three oil and gas blocks on Tuesday out of five blocks offered in the first round of auctions this year, the energy ministry said in a statement.
The Melati block, which has both onshore and offshore fields with an estimated gas resource of 4.7 trillion cubic feet and 850 million barrels (bbl) of oil, was awarded to a consortium of state-owned Pertamina Hulu Energi, China's Sinopec International Energy Investment and Kuwait's KUFPEC Regional Ventures.
Representatives of Pertamina Hulu Energi, Sinopec and KUFPEC did not immediately respond to requests for comment.
The government also awarded the Central Andaman block, located off shore northern Sumatra, to a consortium of private equity-owned Harbour Energy's Premier Oil South Andaman and Mubadala Energy of the United Arab Emirates.
The Central Andaman exploration block has estimated resources of 100 million bbl of oil and 500 billion cubic feet (bcf) gas, the ministry has previously said.
Amanah Block, with 50 million bbl of oil and 450 bcf of gas onshore South Sumatra, was awarded to a consortium consisting of a unit of Indonesia's Medco Energi Internasional MEDC.JK, Sele Raya and KUFPEC Regional Ventures.
The selection process for the two remaining blocks offered in the auction, Panai and Pesut Mahakam, is ongoing, the ministry added.
For a second round of oil and gas auctions later this year, the government will potentially offer the Air Komering, Binaiya, Gaea, Kojo and Serpang blocks, the ministry said.
Reporting by Fransiska Nangoy, Bernadette Christina Munthe; Editing by Sonali Paul
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
