Indonesian Government set to auction 50 oil and gas blocks

07 Februar, 2011

The Indonesian government will put up for sale 50 oil and gas blocks this year in two auctions. Director General of the Energy and Mineral Resources Ministry of the Republic of Indonesia, Ms. Evita Herawati Legowo, said most of the blocks would be auctioned off in tenders.

The Indonesian government will put up for sale 50 oil and gas blocks this year in two auctions. Director General of the Energy and Mineral Resources Ministry of the Republic of Indonesia, Ms. Evita Herawati Legowo, said most of the blocks would be auctioned off in tenders. “Only 11 blocks will be made available through a direct offer scheme,” said the Director General. Furthermore, she said that the Indonesian Government also planned to offer 10 coal bed methane blocks. The move to auction off the blocks was part of the government’s effort to improve the ministry’s oil and gas sector.

 

 

President Joko Widodo (Jokowi) said Indonesia already enters years of low inflation, with inflation around 3 percent in the past two years.
President of the World Bank group, Jim Yong Kim, here on Tuesday expressed his support to the Indonesian governments plan on the tax reform program, which aimed to increase the state budgets income.
President Joko Widodo (Jokowi) plans to visit Turkey to develop partnership in strategic industry and economy with the country, Foreign minister Retno Marsudi said here on Monday at the state palace after a meeting prior to the presidents visit to Turkey and Germany.
Indonesian Foreign Minister Retno Marsudi and her Maldivian counterpart Mohamed Asim will hold a bilateral meeting in Jakarta on Wednesday (June 21) to discuss the cooperation in tourism sector.
The United Nations Food and Agriculture Organization (FAO) has praised Indonesia for its role in fighting illegal, unreported, unregulated (IUU) fishing, the Indonesian Embassy in Rome said.
Indonesias real GDP growth is projected to increase from 5.2 percent this year to 5.3 percent in 2018, according to the World Banks June 2017 Indonesia Economic Quarterly.
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