Recently, Indonesia provided five onshore and offshore oil and gas blocks in its first tender this year to reverse the continued decline in oil and gas production.

Indonesia was once a net oil exporter, but its hydrocarbon production has declined due to the depletion of natural resources and insufficient new exploration.According to statistics released by the U.S. International Trade Agency, Indonesia's oil production has been declining at an average annual rate of 11%.

Reuters mentioned in the report: "In order to meet energy needs, considering that Indonesia still has a large number of undeveloped oil and gas reserves, Indonesia is currently focusing on exploring new oil and gas basins.”Indonesia has 128 basins with oil and gas resources, of which 68 have not yet been explored.

Earlier this year, an Indonesian government official said that Indonesia plans to provide a total of 10 oil and gas exploration blocks to the outside world in this year's auction.

The first tender this year includes an onshore block in Eastern Kalimantan Province with an estimated 1.1 trillion cubic feet of natural gas reserves, and a block in Central Andaman Island with an estimated 100 million barrels of crude oil and 500 billion cubic feet of natural gas resources.

According to the Indonesian Ministry of Energy, the tender also includes several onshore and offshore blocks on Sulawesi, with reserves of about 850 million barrels of oil and 4.7 trillion cubic feet of natural gas.

Translated by Li Laojun.