Indonesia’s Energy and Mineral Resources (ESDM) Ministry aims to auction 40 conventional and three non-conventional oil and gas working areas (WKs) in early March this year. The WKs to be auctioned will include 32 blocks that failed to attract investors or bidders in the period of 2015-2017 auctions. The oil and gas blocks contracts will be based on gross-split production sharing contract (PSC) scheme, instead of cost-recovery PSC scheme. Currently, the ministry is processing the tender of 15 oil and gas blocks offered in late 2017, in which five of them have attracted bidders interest.
