Roll up, roll up: Indonesia offers more exploration acreage

Upstream is a global oil and gas news source reporting on the key oil and gas stories from across the globe, and today (November 10, 2022) they have published an article suggesting that Indonesia has offered more exploration acreage before the ongoing first stage of its 2022 licensing round has even closed.

Tutuka Ariadji, Director General Oil and Gas at the Ministry of Energy and Mineral Resources (ESDM), announced that two blocks; Paus and Jabung Tengah, are now up for grabs via the direct tender process.

Jabung Tengah is located onshore and offshore Jambi and Riau provinces. The minimum exploration commitment for this 8,728.34-square kilometre block comprises geological and geophysical studies, the acquisition of at least 500-line kilometres of 2D seismic and the drilling of two exploration wells.

The 8,214-square kilometre Paus block is located offshore East Natuna. Here the minimum commitment is G&G studies, the acquisition of 200-square kilometres of 3D seismic plus one wildcat. Paus is on the table via the direct tender mechanism without a joint study agreement.

Bid documents for Paus and Jabung Tengah can be accessed until 7 December 2022 and bids are due back just two days later, report Upstream.

Meanwhile, the three working areas currently on offer via the regular tender process from Indonesia’s first bid round of 2022 are Bengara I (onshore North Kalimantan), Arakundo (onshore and offshore Aceh) and the South Makassar offshore block. Prospective applicants can access these bid documents until 15 November and submissions are due by 17 November this year.

The minimum work commitment for Arakundo comprises just G&G studies and the acquisition of 500-square kilometres of 3D seismic. The estimated potential resources of this 7,713-square kilometre block are 150-million barrels of oil.

Bengara I’s estimated reserves are put at some 90-million barrels of oil. This 922-square kilometre working area is being offered on flexible terms of either a cost recovery or gross split production sharing contract in recognition of its lower hydrocarbon potential. Here the minimum commitment workscope is G&G studies plus the acquisition of 300-line kilometres of 2D seismic.

The 7,580-square kilometre South Makassar block is also available as either a cost recovery or gross split PSC. Here the touted potential resources at this block are 1.8-billion barrels of oil and the minimum commitment includes G&G studies and the acquisition of 500-line kilometres of 2D seismic.

Upstream say that During this regular tender process, the Indonesian government can stipulate a certain area in which national oil company Pertamina may have the right to acquire a 15-percent participating interest from the bidder who wins the award. Any such participating interest would be on a business-to-business basis, the ESDM earlier confirmed.

Source: Upstream

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