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The AAPG/Datapages Combined Publications Database

Southeast Asia Petroleum Exploration Society (SEAPEX)


Proceedings of the 2003 South East Asia Petroleum Exploration Society (SEAPEX) Conference, 2003
Pages 1-26

Overview of the 3rd Migas Bidding Round in Indonesia

Edy Hermantoro


On February 1st, 2003, Minister Purnomo announced the Migas 3rd tender round. There are eleven blocks offered. The 3rd round differs from all previous ones in that it offers different terms for each block and all terms differ from all previous offers. We believe that we now have addressed one of industry's persistent concerns about previous terms and attempt to offer a better one, i.e. split, in this round. We recognize the indispensability of partnership of government and industry. We view that when we serve industry well we can expect reciprocal honest treatment from them in return.

The terms require a certain basic economic assessment of each block offered. Accessibility to data by government to assess is one of importance. As we progress into the future, we seek and encourage the creation of new data, draw much of what is available and progressively rationalize and utilize them to best serve Indonesia's and industry's interests.

As new data are made available new geological ideas might develop, and technology and the dynamics of global economics can be expected to change. We accept these, and, as a matter of course, accept the resulting changes of assessments. The terms can therefore be expected to differ in future rounds. Nevertheless we seek terms that are simple, straightforward and less bureaucratic, leading into an open environment where endless discussions and negotiations and extraneous expenses inadvertently being forced upon industry are things of the past.

Presented at: 2005 South East Asia Petroleum Exploration Society (SEAPEX) Conference, Singapore, 2003

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