Exxon Mobil to assume Cepu top position
Monday, March 13 2006 - 01:20 AM WIB
US oil giant Exxon Mobil said it had completed talks with state oil and gas company Pertamina about Cepu gaint block operatorship and said the deal will be signed on Tuesday, Koran Tempo reported.
ExxonMobil Oil Indonesia Vice President for Planning and External Relations Maman Budiman said Exxon would assume general manager position in the joint venture. Pertamina president Ari Soemarno confirmed that the deal would be signed this week, but declined to give detail.
Maman denied that the signing was hastily prepared to coincide with the visit of US Secretary of State Condoleezza Rice.
Both sides had been bickering for years over the block?s operatorship.
The block, which has recoverable oil of more than 250 million barrels, will be able to produce 180,000 BPD when fully developed.(*)