5 Oil and Gas Blocks Offered Using a Gross Split Scheme

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01/02/2018 13:11 WIB

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Offered and Sold Conventional Migas Blocks (2001-2017)

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5 Oil and Gas Blocks Offered Using a Gross Split Scheme

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Offered and Sold Conventional Migas Blocks (2001-2017)

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The Ministry of Energy and Mineral Resources (ESDM) announced the winners of the 2017 oil and gas Working Area (WK) bids on January 31, 2018. This was the first conventional oil and gas block auction using the gross split scheme.

Of the 10 WK offered (7 direct WK and 3 regular), five attracted investor interest. The five successful blocks were WK Andaman I (won by Mubadala Petroleum (SE Asia) Ltd), WK Andaman II (Preimier Oil Far East Ltd-KrissEnergy consortium), WK Merak-Lampung (Tansri Madjid Energi), WK Pekawai (PT Saka Energi Sepinggan), and WK West Yamdena (PT Saka Energi Indonesia). The five unsuccessful blocks were WK South Tuna, WK Kasuri III, WK Tongkok, WK East Tanimbar, and WK Memberamo. The oil and gas block auction, which began in May 2017, was extended four times while awaiting the ratification of the Gross Split Taxation Government Regulation (PP).

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."