Indonesia’s Oil and Gas Block Offerings Fail To Excite Investors

Indonesia’s Oil and Gas Block Offerings Fail To Excite Investors

Indonesia offered on Friday 10 conventional and 5 unconventional oil and gas blocks under new, more flexible terms for production sharing deals, but it is still failing to attract much interest from international upstream companies.

Indonesia has tweaked its production sharing rules and will try to reduce import duties on equipment for exploration where possible, deputy energy minister Arcandra Tahar told Reuters.

In the 2016 tender, Indonesia offered 17 blocks, but picked just one winner. According to Tahar, the feeble interest last year was not due to Indonesia’s unattractiveness as an oil exploration destination, but to the combination of the low oil prices and company strategies. Read More…

 

Credit By : Oilprice

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