Indonesia Offers Tenders for Eight New Oil and Gas Blocks

OIL AND GAS - JAKARTA. Indonesia announced a round of oil and gas block tenders on Monday, offering eight new blocks to contractors, an energy ministry document showed, amid efforts to increase energy reserves.

Indonesia's oil and gas production has been on a downtrend in the past decade due to depleting reserves, and the government has pledged to offer dozens of new blocks in coming years to reverse the trend.