GOVT TO TENDER THREE OIL BLOCKS IN SELAYAR TO FOREIGN INVESTORS

Makassar, S Sulawesi, Oct.16 (ANTARA) - The government will hold a tender to foreign investors this month for three oil blocks in Selayar waters, South Sulawesi province, an official said.
Yunan Muzaffar, chief of the concession area preparatory division at the Oil and Gas Directorate General said here Thursday that the three oil blocks are Kambuno in North Selayar, (5,322 square kilometers), Block Selayar in East Selayar, (5,432 square kilometers), and Block Karaeng in West Selayar, (7,944 square kilometers).
Yunan said that the government said it will tender the three blocks because they were still produtively potential.
The date of the tender will be announced this month, and the necessary documents will be collected next month, he said.
"We have carried out a general survey, and the result showed that the three blocks are potential oil sources," he said on the sidelines of a consultative meeting on the oil concessions with the South Sulawesi provincial administration.
When the oil is ready for exploration, the government will offer the investors a profit-sharing contract.
In 2003 Unocal Indonesia and Amoseas Indonesia conducted oil explorations in the area in 1993 and 2003, but the two companies failed in their exploratory attempts, he added.