To jump-start foreign investment in energy production, 25 oil and gas exploration and production blocks go up for auction in May and June

To jump-start foreign investment in energy production, 25 oil and gas exploration and production blocks go up for auction in May and June, according to details posted on ProZorro.Sale, the government’s online auction house. Seven blocks will be auctioned May 2. Nine more blocks will be auctioned June 18. All blocks are onshore with licenses for 20 years. Separately, production sharing agreements for nine more blocks, with a total area of 11,600 sq km, go up for electronic auction in June. Although no foreign companies bid for licenses in the first round of auctions, on March 6, upcoming rounds are winning news reports in the Oil & Gas Journal and S&P Global Platts.