Update COVID-19 in Indonesia: 497,668 confirmed infections, 15,884 deaths (23 November 2020)
23 November 2020 (closed)
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The government of Indonesia decided to offer more attractive profit sharing schemes in order to lure investors to invest the nation’s oil & gas blocks. In September, the government plans to auction a total of eight oil & gas blocks with a profit sharing of 30 percent to 35 percent for oil, and 35 percent to 40 percent for gas. The majority of profit will still go to the government. Usually, the government offers a 15 percent profit share for oil and a 30 percent profit share for gas to investors.
Djoko Siswanto, Upstream Oil & Gas Director at the Indonesian Ministry of Energy and Mineral Resources, said the government targets to have completed the tender by December 2015.
Oil & Gas Blocks:
|Rupat Labuhan||Riau/North Sumatra||Sumatra||Offshore|
|Southwest Benggana||East Kalimantan||Kalimantan||Onshore|
|West Berau||West Papua||Papua||Offshore|
The difference between regular tender and direct offer is that in regular tenders companies bid for the block based on exploration data given by the government, while in direct offers investors are required to conduct a joint study with the government.