Indonesia Awards Exploration Rights for Four Oil, Gas Blocks

Indonesia awarded rights to companies including units of BP Plc and Hess Corp. to explore four oil and gas blocks, an Energy and Mineral Resources Ministry official said.

The four areas are Offshore Timor Sea I, Halmahera II, West Aru I and West Aru II, said Evita Legowo, director general of oil and gas at the energy ministry. Total investment commitments are $64.5 million, Legowo said.

The following table shows details of the blocks and companies that won the exploration rights as announced by the energy ministry today.

================================================================
Projects               Type       Winners
================================================================
Offshore Timor Sea I   Offshore   Hess (Indonesia-V) Ltd.
Halmahera II           Offshore   Niko Resources (Overseas I)
                                  Ltd.-Statoil ASA
West Aru I             Offshore   BP Exploration Indonesia Ltd.
West Aru II            Offshore   BP Exploration Indonesia Ltd.
================================================================

To contact the reporter on this story: Eko Listiyorini in Jakarta at elistiyorini@bloomberg.net

To contact the editor responsible for this story: Greg Ahlstrand at gahlstrand@bloomberg.net

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