Indonesia: Six oil and gas blocks up for bidding

Gas
Indonesia is offering five exploration oil and gas working areas and one exploitation working area in its first bidding round of 2022. The blocks offered are scattered across the country: offshore Northwest Aceh, offshore Southwest Aceh, and Arakundo in Aceh, Bawean in offshore East Java, Bengara 1 in North Kalimantan, and Maratua 2 in offshore Makassar Strait. Borealis/Axpo Nordic tie-up for wind energy for Swedish plant. Teijin to deploy power cogeneration at Japanese facility. Elix Polymers Spanish plant to use electricity consumption from renewable sources. Wanhua Chemical partners with Agilis for digital portal for TPUs. Mitsubishi Power completes mega power plant in Thailand. Air Liquide, Chevron, Keppel, and PetroChina to explore CCUS in Singapore. NextChem awarded EUR194 mn grant for Italy’s waste-to-hydrogen project. Azeri Central East drilling platform installed in the Caspian.Ineos awards contract to Atkins for low-carbon hydrogen plant at Grangemouth. (EOG) Asia, which has been online since 2014, is a leading online source of industry-specific news and information. It covers key development updates, such as discoveries, exploration and drilling, deepwater and subsea production, and so on. The waste-to-hydrogen project in Italy received a 194 million euro grant from NextChem. EOG Facebook Indonesia: Six oil and gas blocks up for bidding EOG - Indonesia

Indonesia| Online since 2014, Energy, Oil & Gas (EOG) Asia

Indonesia is offering five exploration oil and gas working areas and one exploitation working area in its first bidding round of 2022. The blocks offered are scattered across the country: offshore Northwest Aceh, offshore Southwest Aceh, and Arakundo in Aceh, Bawean in offshore East Java, Bengara 1 in North Kalimantan, and Maratua 2 in offshore Makassar Strait.

According to an Indonesian senior energy official, the potential resource of the oil and gas blocks total 3.94 billion barrels of oil and 14.08 trillion cubic feet of gas.

Tutuka Ariadji, the energy ministry’s director-general of oil and gas, said the government had improved the contractor’s split and offers flexibility in a production sharing scheme. It has also lowered a shareable First Tranche Petroleum (FTP) from 20% to 10% to attract more bidders.

FTP refers to the portion of oil or gas produced and set aside before any deduction is made for recovery of operating costs and production handling costs, which the government and the contractor are entitled to.

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