Eric Watkins
Senior Correspondent
LOS ANGELES, Feb. 22 -- Indonesia will open bidding on 27 oil and gas blocks in South Sumatra, Papua, Sulawesi, and East Java, according to a government official.
Iin Arifin Takhyan, the oil and gas director general at the Mines and Energy Ministry, said the ministry in March will open 17 blocks via direct bidding and offer 10 blocks under regular bidding procedures.
Under the direct-offer scheme, blocks are put forward for tender by bidders, who may then be awarded the blocks if no other investor expresses interest. If there are other bids, the government will pick the most attractive bid.
In a regular tender, the government invites all companies to submit bids on designated blocks at the same time.
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