JAKARTA (Reuters) -Indonesia awarded oil and gas block Perkasa to TIS Petroleum (Asia) Pte Ltd for exploration and announced offering of another block in South Sumatra, the energy ministry said on Friday.
The Perkasa block is located offshore East Java, with estimated reserves of 228 million barrels of oil, or 1.3 trillion cubic feet (TCF) of gas, the ministry said in a statement.
The ministry also announced the offering of the Gagah block in South Sumatra, which has an estimated reserves of 173 million barrels of oil, or 1.1 TCF of gas.
Indonesia’s energy ministry has pledged to increase offerings of oil and gas blocks to contractors in coming years as the government seeks to reverse the decline in its oil and gas output due to aging wells.
(Reporting by Fransiska Nangoy; Editing by Rashmi Aich)
