Indonesia's Ministry of Energy and Mineral Resources has announced the winners of the first bidding round for oil and gas blocks in 2024.

For the Central Andaman block (offshore North Sumatra), the consortium of Premier Oil South Andaman Limited and Mubadala Energy Holdings Limited won the bid with a signature bonus of $300,000 and a firm commitment of $4,032,293. For the Amanah block (Onshore South Sumatra), the consortium of PT Medco Energi Linggau, PT Sele Raya, and KUFPEC submitted the winning bid, with a signature bonus of $300,000 and a firm commitment of $3,150,000.

The consortium of PT Pertamina Hulu Energi, Sinopec, and KUFPEC, emerged as the winner for the Melati  block (Onshore-Offshore Southeast Sulawesi-Central Sulawesi), with a signature bonus of $200,000 and a firm commitment of $12,700,000.

The bidding process for Panai and Pesut Mahakam blocks is still in progress and is expected to conclude on 11 September 2024. Looking ahead, the Ministry is planning the second phase of the 2024 round, with potential areas including Air Komering, Binaiya, Gaea, Kojo and Serpang.

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