Indonesia invites tenders for the purchase of eight new oil and natural gas blocks

An energy ministry document showed that Indonesia offered 'eight new blocks' to contractors on Monday as part of its efforts to increase the energy reserves.

Indonesia's oil and gas production has declined over the last decade because reserves have been depleted. The government has promised to offer dozens new blocks to reverse this trend in the coming years.

The Energy and Mineral Resources Ministry has announced that it will be accepting bids until February 5, 2026 for the Tapah, Nawasena and Mabelo Blocks.

In a livestreamed event, Laode Sulaeman, an official from the Ministry of Energy and Mineral Resources, said that the onshore Tapah block in South Sumatra province and Jambi Province?has estimated 439.5 millions barrels of crude oil and 23 billion cubic feet of gas.

He said that the Nawasena oil block, located both onshore and off-shore of East Java Province, contains an estimated 1,313 billion barrels.

The ministry also offered Arwana III blocks, Tuah Tanah blocks, Rangkas blocks, Akimeugah I, and Akimeugah II.

Rangkas Block, an onshore site in Banten and West Java Provinces, is estimated to have 874 million barrels or 789 billion cubic feet of gas.

Each of the offshore Akimeugah 'I and Akimeugah 'II blocks in South Papua Province and Papua Mountains Provinces has estimated oil resources of?15billion barrels.

The Ministry announced that the Gagah block of oil and gas in southern Sumatra was awarded to PT Proteknik Utama. (Reporting and editing by Subhranshu sahu; Dewi Kurniawati)

(source: Reuters)