A total of 74 blocks have been returned to the Indonesian government in the past three years, mainly because of a lack of prospectivity but also due to a lack of available funds for pledged exploration, writes Amanda Battersby.
The minimum commitment exploration spending on these 74 blocks is put at around US$400 million — some of which was invested on the promised studies and seismic surveying although an unknown amount remains unpaid and the promised work was not carried out.
