Conrad Asia Energy Wins Offshore North West Aceh and Offshore South West Aceh Auctions

JAKARTADAILY.ID – Conrad Asia Energy Ltd, an Australian Oil and Gas company, won two direct bidding auctions for phase I-2022 work areas held by the Indonesian Ministry of Energy and Mineral Resources (ESDM).

The two direct bidding auctions are Offshore North West Aceh (Meulaboh) and Offshore South West Aceh (Singkil).

"The ONWA Working Area (Meulaboh) has an area of ​​9,182 KM2 with an estimated source of oil of 800 MMBO and gas of 4.8 TCF. Meanwhile, the OSWA Working Area (Singkil) has an estimated source of oil of 1.4 BBO and gas of 8.6 TCF, "said Director General of Oil and Gas Tutuka Ariadji in his statement, Tuesday, November 8, 2022.

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Tutuka said, the total amount of the firm commitment investment of the 2 Work Areas is $30,000,000 and the signature bonus is $100,000.

Meanwhile, the Regular Auction for the Phase I 2022 Oil and Gas Working Areas is still ongoing, which consists of 3 Working Areas, namely Arakundo, Bengara I, and South Makassar.

The schedule for access to Bidding Documents for Regular Auctions is still open until November 15, 2022, while the submission of Participation Documents is until November 17, 2022.

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In addition, the Director General of Oil and Gas also announced Direct Bidding Auctions for the Central Jabung Working Area on land and offshore Jambi, Riau, and Riau Islands. Then the Whale Working Area off the coast of East Natuna.

"The auction offer for the Central Jabung and Pope Oil and Gas WK is open starting today (November 8)," concluded Tutuka.

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