Ministry Of Energy And Mineral Resources Announces 4 Winners Of Auction For Oil And Gas Working Areas

JAKARTA - The Ministry of Energy and Mineral Resources (ESDM) through the Director General of Oil and Gas, Tutuka Ariadji announced the Winners of the Direct Bidding Bidding of Oil and Gas Working Areas (WK) Phase II of 2021 in Jakarta.

The number of Oil and Gas CAs offered in this Direct Offer Auction is four WKs, namely North Ketapang, Agung I, Agung II, and Bertak Pijar Quail.

"As announced last November 29, 2021, there are 4 areas that are offered with a direct bid auction mechanism," said Tutuka Ariadji in a virtual press conference, Friday, March 18.

The winner of the North Ketapang work area was won by PC Ketapang II Limited, with a definite total commitment of 8,140,000 US dollars and a signature bonus of 500,000 US dollars.

Next, the Agung I work area was won by BP Exploration Indonesia Limited, with a total firm commitment of US$2,500,000 and a signature bonus of US$100,000.

Third, the Agung II work area with a signature bonus of 100,000 US dollars and a definite commitment of 1.5 million US dollars with details of the G7G Study of 500,000 US dollars and 2D seismic along 2,000 km worth 1 million US dollars.

Finally, the Bertak Pijar Puyuh working area with a signature bonus of US$500,000 with a definite commitment of US$2 million for workover activities of 8 wells.

"We congratulate the winners of the auction and we will immediately send an official winning letter to the winners," said Tutuka.

The winner of the auction is required to submit this determination letter within 14 working days from the receipt of the notification of the winner.

Meanwhile, the total investment for the definite commitments of the 4 WKs is US$14,140,000 and the signature bonus is 1,200,000. US dollars.

In addition to the announcement of the WK mentioned above, the Regular Auction for the Oil and Gas WK Phase II 2021 is still ongoing, which consists of four Working Areas, namely Karaeng, Maratua II, Pope, and West Palmerah. The schedule for access to Bidding Documents is still open until March 24, 2022, while the submission of Participation Documents is on March 24 - 25, 2022.