Oil & Gas Blocks That Didn’t Sell to Be Re-auctioned by Indonesia’s ESDM
· by S. Kalsum
JAKARTA — Indonesia’s Ministry of Energy and Mineral Resources (ESDM) announced that oil and gas blocks which failed to attract bids in the second auction phase will be re-offered in the next round.
Re-auction Plan for Unsold Blocks
From six oil & gas blocks auctioned in the second round, only two—South Jambi B Block and Banyumas Block—received winning bids. Deputy Minister Arcandra Tahar confirmed the government plans to re-auction the remaining unsold blocks in the third round, slated to begin next week at the ESDM premises in Central Jakarta.
“For blocks that did not sell, there’s a possibility we’ll include them in the next round, which will open next week,” Arcandra said.
Third Round to Include Joint-Study Blocks
The upcoming third round of auctions will feature blocks that have either completed or are still undergoing joint studies. “Next week will mark the third round, consisting of blocks that have already or are currently conducting joint studies,” he added.
Regarding which blocks will be included in this third round, Arcandra stated that government is still evaluating market interest and will finalize the list by next Monday.
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