There is few interest from the private sector to participate in Indonesia's oil & gas block tenders. Besides Indonesia's unconducive investment climate (that includes weak government management, bureaucracy, an unclear regulatory framework and legal uncertainty), low global petroleum prices have also managed to curb investors' enthusiasm. In a bid to entice private investors the Indonesian government has decided to change the concept for oil & gas tenders in 2016 from a fixed revenue split to an open bid split scheme.
Update COVID-19 in Indonesia: 115,056 confirmed infections, 5,388 deaths (4 August 2020)
5 August 2020 (closed)
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