Indonesia’s Ministry of Energy and Natural Resources has launched new auctions for 6 oil and gas blocks, with a combined potential of 48 Gboe of reserves. This is the country’s second auction in 2024, bringing the total number of blocks offered this year to 11. The tendered blocks are the Air Komering (regular auction), Serpang, Kojo, Binaiya, Gaea I and Gaea II blocks (direct bidding).
In addition, the Ministry announced the signing of a contract with units of Harbour Energy and Mubadala Energy for the development of a Central Andaman oil and gas block. The block has estimated resources of 100 mbl of oil and 500 bcf (14 bcm) of gas.
In October 2024, the Indonesian government announced plans to increase oil and gas production in the country, by cutting regulations, reactivating idle wells and enhancing output at already producing assets. It will prepare 60 oil and gas blocks to be offered to investors, including 14 Potential Working Areas, which have been and will be offered from 2024 to 2028.
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