Eric Watkins
Senior Correspondent
LOS ANGELES, Jan. 16 -- Indonesia plans to offer 30 new oil and gas blocks later this year, mostly in the deep waters of Papua and Nusa Tenggara, along with a package of incentives for investors.
R. Priyono, the energy ministry's director for the upstream oil and gas industry, said the blocks would be offered through a regular tender and direct offer mechanism, scheduled to start in May or June.
By way of incentives, Priyonoi said companies could return their exploration rights to the government if they consider their areas unpromising after 2-3 years of exploration.
Priyono also said the government would announce in February the results of 20 tenders held in August 2006.
Blocks put up for tender at the time are in Madang, South Mandar, Sageri, and South Sageri, all off the South Sulawesi coast; Enrekang, onshore in South Sulawesi; and Karama, Malunda, and Mandar, off West Sulawesi.
Contact Eric Watkins at [email protected].
