Indonesia has awarded three oil and gas blocks, with estimated resources of more than 2.4 Gbl of oil and 9 tcf (255 bcm) of gas to three companies. The three blocks were offered in the first bidding round of 2023, and the winning companies have pledged a total investment of US$22.2m for the first three years of exploitation.
The Akia block in North Kalimantan (estimated resources of 2 Gbl and 9 tcf of gas) was awarded to a consortium of Armada Etan Ltd. and Pexco Tarakan N.V. The Beluga block in west Natuna (360 mbbl and 50 bcf (1.4 bcm) of gas) was awarded to Medco Energi Linggau, a unit of Medco Energi Internasional. The Bengara I block in onshore North Kalimantan (90 mboe) was awarded to Texcal Mahato EP FZCO.
Indonesia plans to offer a total of ten new oil and gas blocks in 2023. The country aims to increase oil lifting to 1 mbbl/d and gas lifting to 12 bcf/d (340 mcm/d) by 2030.
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