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Indonesia awards exploration rights for blocks

09/28/2009
By Eric Watkins
Indonesia has awarded five oil and natural gas blocks to several companies, aiming to increase oil and gas reserves and to lift dwindling production."The companies will drill three exploration wells. We believe those areas have hydrocarbon potential," said Evita Legowo, director general oil and gas at the ministry of energy. A total investment of $91.5 million has been committed for the projects in the first 3 years.Indonesia awarded exploration rights to Talisman Energy Inc. for Andaman III block off North Sumatra, while Indonesia's state-owned PT Pertamina and Malaysia's Petronas won exploration rights to West Glagah Kambuna, off North Sumatra.A consortium comprised o...
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