Indonesia awarded nine oil and gas blocks to several companies, with an investment commitment valuing nearly $85 million, its Energy Ministry said on Wednesday, with the blocks expected to help the country to achieve its energy security goals.
The ministry awarded the Bintuni and Drawa blocks, located in offshore West Papua, to a consortium consisting of four companies: BP Exploration Indonesia, MI Berau, CNOOC Southeast Asia, and Indonesia Natural Gas Resources Muturi.
The Bintuni block has estimated resources of around 2.1 trillion cubic feet of gas while Drawa has estimated resources of around 360 billion cubic feet of gas.
Indonesia also awarded Southwest Andaman block in offshore Aceh to the UAE's Mubadala Petroleum. The block is projected to have around three tcf of gas potential.
A consortium consisting of Japan's Inpex Corporation and BP Exploration Indonesia was given Barong block, which is located off the coast of East Java and South Sulawesi and has gas potential of around 2.9 tcf.
The government awarded Nawasena block, which is located in East Java province, to a unit of Medco Energi Internasional, Medco Energy Linggau.
(Reporting by Ananda Teresia; Editing by Alison Williams)
