March 27, 2023
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Indonesia to offer 10 oil and gas blocks, including in South China Sea

JAKARTA — Indonesia plans to offer 10 oil and gas working areas this 12 months, including a block in the South China Sea, amid efforts to increase power manufacturing and make new discoveries, a senior power ministry official stated on Monday.

(*10*)In 2022, Indonesia auctioned 13 oil and gas fields and has appointed contractors for six of them.

(*10*)The nation is aiming to attain crude oil lifting of 1 million barrels per day (bpd) and gas lifting of 12,000 million customary cubic ft per day (mmscfd) by 2030. Final 12 months, it missed its oil and gas lifting goal amid delays in initiatives and surprising shutdowns.

(*10*)Among the many oil and gas fields Indonesia plans to offer this 12 months are working areas in Natuna D Alpha, that are big gas fields located in the South China Sea, power ministry official Tutuka Ariadji advised reporters.

(*10*)“Hopefully this year, in May, we would be ready to launch the offering. We also need to gauge the interest for this Natuna block before we open this to public offering,” he stated.

(*10*)Final 12 months, Indonesia accredited improvement plan for $3-billion Natuna gas discipline in South China Sea.

(*10*)Tutuka additionally hoped stalled gas mega-projects similar to Indonesia Deepwater Growth (IDD) and Masela might quickly be resumed. 

(*10*)Oil big Cheveron is shut to reaching a cope with an investor to switch its stake in IDD, in accordance to upstream oil and gas regulator SKK Migas.

(*10*)Tutuka final week declined to disclose particulars of the dialogue on IDD stake.

(*10*)In the meantime, Indonesian state oil and gas Pertamina remains to be negotiating with Shell to probably take over its partnership in the Masela mission. — Reuters

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