Indonesia expects investments to reach $375 million for the 22 oil and gas blocks it awarded on Oct. 17, according to Evita H. Legowo, director general for oil and gas.
Chevron Corp., ConocoPhillips, and Husky Energy Inc., all of which won oil and gas exploration rights for four blocks, have pledged total investment of at least $91.4 million over the next 3 years.
Chevron subsidiary Chevron Indonesia Ventures Ltd., which won the rights to explore the West Papua I and West Papua II blocks in West Papua, will invest $24.5 million in each field.
ConocoPhillips, which was awarded exploration rights for Arafura Sea block, will need to invest $30 million in the first 3 years. Husky Energy is expected to invest $12.4 million for 3 years of exploration activity on North Sumbawa II block.
In addition to the three international oil companies, other companies winning exploration rights (and their respective blocks) include:
Serika East Seruway BV (East Seraway); Ranhil Energy Sdn. Bhd., (South CPP); Consortia PT Radiant Nusa Investama-PC (SKR) International Ltd. (South West Bukit Barisan); PT Karya Inti Petroleum (Lirik II); PT Tiga Musim Mas Jaya, (West Tungkal); Consortian Gujarat State Petroleum Corp. Ltd-Essar E&P Ltd. (South East Tungkal); PT Harpindo Mitra Kharisma (Lampung III); Consortia Pearl Energy Ltd.-Australian Worldwide Exploration Ltd. (East Muriah); PT Sinochem Petroleum E&P (Madura); Consortia Kaizan Oil & Gas LLC (West Sageri, South East); Niko Resources Ltd. (Ganal I, South Matindok); Consortia PT Kutai Timur Resources-Salamander Energy Ltd. (South East Sangatta); Adelphy Energy Ltd. (South Bengara II); PT General Energy Indonesia (North Bone); Consortia Kaizan Oil & Gas LLC-Marathon Indonesia New Ventures Ltd. (Bone Bay); PT Putindo Bintech (Buton I); and Consortia Biak Petroleum LLC-Niko Resources Ltd. (Seram).
