Indonesia: INPEX and Statoil among winners of nine Indonesian oil and gas blocks.


Japan's INPEX Corp won the Babar Selaru oil and gas block in Indonesia's first bidding round this year, in which eight other blocks were awarded to investors who committed to spend a total of $106 million in the first three years of exploration.
Results of the second auction are expected to be unveiled next month for at least nine other blocks, following the completion of the first round, in which 11 blocks were offered and nine awarded, Evita Legowo, a director at the energy ministry said on Wednesday.
The offshore Babar Selaru block in the Arafuru Sea near Papua province, was awarded to Japan's top oil and gas developer INPEX in a consortium with Japan Oil, Gas and Metal National Corp. Italy's Eni in a consortium with France's GFD SUEZ, Norway's Statoil and Niko Resources also won an offshore oil and gas block in North Ganal, Makassar strait. Statoil secured another offshore block with Canadian oil and gas company Niko in Obi, Halmahera island, while Prabu Energy won the Ranau onshore block in Sumatra.
Forbes Citra Nusantara won the northeast Madura offshore block andMurphy Oil Corp secured the rights to explore Semay VI offshore block in West Papua. Karya Inti Petroleum, Geraldo Energy and Cahaya Sumber Energy Pratama each won an oil and gas block in Kalimantanon Borneo island.
The energy ministry did not provide details on the blocks' reserves.
Indonesia, a former OPEC member, is anxious to reverse falling oil output from ageing fields and the government aims to hasten the approval process for exploration applications and remove red tape. The government is piling pressure on firms holding oil and gas contracts to expedite their projects and will call up 149 contractors to explain why they have failed to meet exploration commitments.
The energy ministry is also preparing a new regulation to boost oil and gas exploration, which might contain incentives for contractors who met their exploration commitments and disincentives for those who did not, Legowo said, adding that the rules could be ready by year-end.
A major project, the ExxonMobil-operated Cepu block is moving into full development phase towards the targeted peak production of 165,000 barrels per day (bpd) by 2014 from the current 20,000 bpd. Engineering and construction (EPC) contracts have been signed with Jakarta-based Scorpa Pranedya as well as a consortium of Samsung Engineering and Tripatra Engineers and Construction.
Background
On May 19, Indonesia launched the Indonesia Petroleum Bidding First Round Year 2011. A total of 20 blocks were on offer, with 9 blocks being offered through 'regular tender' and 11 blocks on offer through 'direct proposal'.
Reguar tender blocks are: Bulu Rembang, Offshore Timor Sea I, Offshore Timor Sea II, Halmahera I, Halmahera II, Halmahera III, West Aru I, West Aru II and Arafura Sea II.
Direct proposal blocks are: Ranau, Northeast Madura, West Tanjung, Belayan, East Simenggaris, North Ganal, Babar Selaru, Obi, North Semai, West Berau and Semai IV.
Photo - see caption
Source: Reuters / energy-pedia


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