BP was awarded three blocks in Central Kalimantan, while French energy major Total won one block in East Kalimantan, the ministry’s director general for oil and gas, Evita Herawati Legowo, told reporters. Legowo said BP and its consortium partner have committed to investing $13.55 million for the first three years of exploration activities in the three blocks, while Total’s commitment is $4.3 million.
BP was one of four firms winning oil and gas blocks in November last year with total planned investment of $28 million.
Indonesia plans to offer 50 oil and gas blocks as well as 10 coal bed methane blocks in 2011 to investors as the country seeks to boost investment in the sector, the energy ministry said late last year.
The energy ministry will offer 39 oil and gas blocks via tender and the reminder through direct offer.
The Indonesian government expects 215.34 trillion rupiah ($23.78 billion) in revenue from the oil and gas sector this year based on an average price of $80 per barrel, data from the energy and mineral resources ministry showed in January.
The target is lower than actual 2010 revenues of 220.987 trillion rupiah. (sourced Reuters)
BP was one of four firms winning oil and gas blocks in November last year with total planned investment of $28 million.
Indonesia plans to offer 50 oil and gas blocks as well as 10 coal bed methane blocks in 2011 to investors as the country seeks to boost investment in the sector, the energy ministry said late last year.
The energy ministry will offer 39 oil and gas blocks via tender and the reminder through direct offer.
The Indonesian government expects 215.34 trillion rupiah ($23.78 billion) in revenue from the oil and gas sector this year based on an average price of $80 per barrel, data from the energy and mineral resources ministry showed in January.
The target is lower than actual 2010 revenues of 220.987 trillion rupiah. (sourced Reuters)
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