MINISTRY OF ENERGY AND MINERAL RESOURCES
REPUBLIC OF INDONESIA
PRESS RELEASE
NUMBER: 206.Pers/06/SJI/2021
Date: 17 June 2021
Government of Indonesia offers six oil and gas working areas in the first round of Indonesia Petroleum Bid Round 2021
Government of Indonesia opens the oil and gas working areas bid round after being postponed in 2020 due to the world crude oil price fluctuation and the Covid-19 pandemic. The government has taken efforts to make a more attractive tender by improving the Terms & Conditions such as contractor's profit split improvement by taking into account the risk factor of the block, open bid Signature Bonus, 10% FTP, 100% DMO price implementation during the contract period, flexibility of PSC scheme (Cost Recovery or Gross Split PSC), new provision of relinquishment (no mandatory of partial relinquishment of area in the 3rd year of the contract), easy access to data through Migas Data Repository (MDR) membership mechanism, as well as incentive and tax facility based on the prevailing laws and regulations.
The announcement is made virtually by Director General of Oil and Gas Tutuka Ariadji at the Oil and Gas Investment Day event hosted by the Ministry of Energy and Mineral Resources and IPA on Thursday (June 17).
There are six (6) working areas on offer, consisting of four (4) working areas in Direct Proposal Tender mechanism and two (2) working areas in Regular Tender mechanism.
A. Four (4) working areas offered in Direct Proposal Tender are:No | Working Area | Location | Size (Km2) | Minimum of Firm Commitment |
1. | South CPP | Riau onshore | 5,446.39 | - G&G - 500 Km of 2D seismic - 50 Km2 of 3D seismic - 1 exploration well |
2. | Sumbagsel | South Sumatera onshore | 1,751.04 | - G&G - 1 exploration well |
3. | Rangkas | Banten & West Java onshore | 3,969.8 | - G&G - 300 Km of 2D seismic |
4. | Liman | East Java onshore and offshore | 3,135 | - G&G - 400 Km of 2D seismic |
B. Two (2) working areas offered in Regular Tender are:
No | Working Area | Location | Size (Km2) | Minimum Firm Commitment |
1. | Merangin III | South Sumatera and Jambi onshore | 1,488.84 | - G&G - 100 Km2 of 3D seismic - 1 exploration well |
2. | North Kangean | East Java offshore | 4,679.33 | - G&G - 200 Km2 of3D seismic - 1 exploration well |
Government of Indonesia is inviting domestic and overseas company (BU/BUT) in upstream oil and gas business which have the financial and technical capability, ability to meet the requirements of 3 years minimum Firm Commitment, ability to meet the terms and conditions of working areas tender, as well as good performance and track record to participate in this first round of Indonesia Petroleum Bid Round 2021.
Schedule of the first round of Indonesia Petroleum Bid Round 2021:
A. Direct Offer
- Bid Document Access: 17 June 2021 - 28 July 2021
- Participating Document Submission: 28 July 2021 - 30 July 2021.
B. Regular Tender
- Bid Document Access: 17 June 2021 - 12 October 2021
- Participating Document Submission: 12 October 2021 - 14 October 2021.
Agung Pribadi (08112213555)
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Ministry of Energy and Mineral Resources of the Republic of Indonesia published this content on 17 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 June 2021 06:35:04 UTC.
