Eleven blocks will be offered through a regular tender while the remaining 14 will be under a direct offer mechanism, reported the Jakarta Post.
The blocks include Mahakam Hilir in East Kalimantan; North Bali III in Bali; two blocks in the Aru Islands, Maluku; North XB Ray in West Java, North East Lombok I and II in Nusa Tenggara; and Semai I to Semai V in West Papua.
Energy and Mineral Resources Ministry director-general of oil and gas Luluk Sumiarso said the proposed production sharing scheme for the blocks could give explorers up to 50% of the total production revenue.
At present, investors get a 15% share from net oil production and 30% from gas production.
"We will discuss arrangements for the new split with the Finance Ministry," Luluk said.
The Indonesian Government plans to increase oil production to 1.3 million barrels of oil per day by 2009.
Current production is about 1.04MMbpd, a far cry from its output of over 1.5MMbpd in the early 1980s due to the lack of new finds in recent years.