By Oil & Gas Financial Journal staff

The Indonesian government plans to offer 24 new oil and gas blocks for lease, plus an additional 9 coalbed methane (CBM) areas, according to an official with Indonesia’s energy and minerals ministry. The blocks will be offered by the end of November.

Indonesia, a member of OPEC, has been desperately trying to reverse a trend towards declining oil and gas output in recent years. In fact, Indonesia has recently become a net importer of petroleum due to a lack of investment in the petroleum sector, which has hurt the country’s economy. The government would like to improve the output of existing fields and open up new ones.

Indonesia will offer the oil and gas blocks of East Asahan, North Kuantan, Indragiri Hilir, East Jabung, SW Sumatra III, SW Sumatra IV, North Merak, West Kangean, East Bangkanai, West Sebuku, SE Mandar, Gorontalo Basin I, Gorontalo Basin II, Gorontalo Basin III, Gorontalo Basin IV, SW Bird's Head, Arguni I, and Arguni II via a regular tender process.

The Gurita, Sembilang, Kisaran II, South Betung, Sumbagsel, and Arafura Sea II blocks will undergo a direct bidding process.

The CBM blocks that the government will offer via regular tender are Kampar, Pelalawan, Penajam Pasir I, Penajam Pasir II, and Kendang. The Sijunjung, Kutai Barat, Kutai Timur, and Kapuas blocks will be offered via direct tender process.