The Indonesian government has decided to award 20-year contract extensions to three oil and gas block operators starting from 2022. The concerned assets are the Tarakan block awarded to Medco Energi Internasional's subsidiary Medco E&P Tarakan with a 100% operating interest, the Coastal Plains and Pekanbaru (CPP) license awarded to Bumi Siak Pusako with a 100% stake and the Tungkal block, awarded to Mond’or Oil Tungkal (70%) and Fuel X Tungkal (30%). The three blocks currently produce 12,700 boe/d, i.e. around 1.5% of domestic oil production.
Besides, the government also opened the third oil and gas bidding round for 2018, which will include four blocks entailing both onshore and offshore assets in Andaman (South Andaman block, offshore Aceh), Sumatra (South Sakakemang block, onshore South Sumatra), Natuna (Anambas block, offshore West Natuna) and Kalimantan (Maratua block, onshore and offshore North and East Kalimantan). The latter was only offered to Pertamina. Interested companies have to submit their final bid by mid-December 2018.
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