China National Offshore Oil Corporation CNOOC) is offering 13 offshore exploration blocks covering an area of 17,205km2 for biding in 2022, including 11 blocks in Pearl River Mouth Basin with an acreage of 16,235km2, 1 block located in Yinggehai Basin with an acreage of 640km2 and 1 block in Bohai Bay with an acreage of 330km2. Proven oil reserves are estimated at 26 Gbl (at the end of 2021). Reserves of conventional natural gas are estimated at over 2,900 bcm.
In addition, Indonesia has also launched its 2022 licensing round for exploration permits, with 6 oil and gas blocks open for biding. The blocks, which comprise five exploration oil and gas working areas and one exploitation working area, are offshore Northwest Aceh, offshore Southwest Aceh, and Arakundo in Aceh, Bawean in offshore East Java, Bengara 1 in North Kalimantan and Maratua 2 in offshore Makassar Strait. They have a total potential resources of 3.9 Gbl of oil and 399 bcm of natural gas. Indonesia’s proven gas reserves are 1,189 bcm (end of 2020). Proven oil reserves are estimated at 2.4 Gbl.
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