Indonesia’ government opened regular bidding for four third-stage conventional oil and gas blocks in 2019 which was open to all business entities, the energy and mineral resources ministry (ESDM) announced on Friday (July 26). The four blocks are East Gebang block, West Tanjung I block, Belayan I block and Cendrawasih VII block.
Deputy Minister of ESDM Arcandra Tahar said the third phase of the regular auction strategy was different from the second and first stages of oil and gas block auction 2019.
East Gebang block, the location is offshore North Sumatra with an area of 4,213.93 kilometers. The ministry installed the minimum value of a definite exploration commitment for the first three years US$2.5 million. The same commitment also charged for West Tanjung I block, located onshore Central Kalimantan with an area of 5,459.15 kilometers.
Then Wayan Belayan I block, located on East Kalimantan with an area of 5,276.28 kilometers and Cendrawasih VIII block, located off Papua with an area of 5,612.42 kilometers.