Exxon agrees to reduce drilling cost at Cepu oil block

ExxonMobil Indonesia has agreed to reduce the exploration costs at the Cepu oil field and promises to use the government's benchmark for the drilling works at the disputed oil block, Bisnis Indonesia reported on Tuesday.

The company's vice president for public affairs Maman Budiman said in Jakarta on Monday that the drilling costs would be set according to the government's benchmark so that the spending for drilling activities would be at the same level with than those at Pertamina's Sukowati field. (*)