Indonesia, which is seeking to significantly boost oil and gas production this decade, is today launching its first 2022 bid round. Six blocks are up for grabs, offering a range of exploitation, near-field and frontier high-impact opportunities.
Indonesia is offering six upstream blocks as part of its first licensing round in 2021 with improved terms to help attract new investment. Significantly, investors will have the option to choose between the newer gross-split production-sharing contract (PSC) and the traditional cost-recovery PSC, which the government tried to phase out in recent years.
Bidding is now open for some 80,000 square kilometres of new offshore exploration acreage covering six basins in Australia as the government hopes to rejuvenate lacklustre activity and improve energy security.
A trio of oil majors have chosen to miss bidding for 14 blocks in Mexico in the first round of its historic auction, which opens the country's energy market up to private investors for the first time in more than 70 years.
ExxonMobil, Total and Chevron have all passed on the opportunity which has seen just three successful bids so far.