Indonesia set to auction 26 blocks

Indonesia’s Energy and Mineral Resources Ministry announced 26 hydrocarbons working areas offered for bidding on Monday.

The licences include 24 oil and gas blocks, one shale block and one coal bed methane block being offered through direct deals and regular auction. The ministry has planned a series of roadshows in Europe and the USA to promote upstream investments in the country from large energy companies as well as the new gross-split contract model.

“We will try to show them we have a new policy, a new fiscal regime, that’s going to be much better than the previous one,” Deputy Energy Minister Arcandra Tahar told Bloomberg. “If you come and invest, the process will be simple and transparent. The message need to be conveyed clearly and loudly.”

The Energy and Mineral Resources Ministry originally planned to offer up to 43 blocks, but instead selected the ones with the most seismic data.