GOVT TO SIGN BUSINESS CONTRACTS ON 12 OIL BLOCKS

Jakarta, April 23 (ANTARA) - The government will sign work contracts on 12 oil and gas blocks during the Indonesia Petroleum Association (IPA) forum on May 5, 2009, Minister of Energy and Mineral Resources Purnomo Yusgiantoro said.

"There are 12 blocks of oil and gas fields whose contracts are to be signed during the event," the minister said here on Thursday.

Besides signing contracts during the IPA event which will be opened by President Susilo Bambang Yudhoyono, the government will also put to tenders 24 oil and gas blocks.

Mostly located in Indonesian eastern regions, a total of 17 blocks would be offered through regular tenders.

The 17 blocks are Tomini Bay I, Tomini Bay II, Tomini Bay III, Tomini Bay IV, Tomini Bay V, Tomini Bay VI, Tomini Bay VII, North Bone, Bone Bay I, Bone Bay II, Bone Bay III, Bone Bay IV, Menui, Morowali, Sula I, Sula II and Birds Head.

In the meantime there are also oil blocks which would be put to tender directly, namely the blocks of Kubu, North East Ogan Komering, Offshore West Nava, Blora, North Makassar, East Simenggaris and Digul.

The minister said that of the 107 blocks which were under explorations, a total of 20 blocks were found to have oil reserves.***2***