ExxonMobil eyes expansion to eastern Indonesia
Thursday, March 14 2013 - 06:33 AM WIB
American energy giant ExxonMobil Corp is eying opportunities to expand its business to eastern Indonesia, where a number of giant gas fields have been discovered and many areas remain unexplored.
?We are reviewing potential oil and gas blocks. We are interested in eastern Indonesia,? Asep Sulaiman, ExxonMobil Indonesia?s Exploration & External Relations Senior VP told Petromindo.com on Thursday.
The firm, one of the long-time oil and gas investors in Indonesia, used to have significant operations in Aceh but its gas reserve in the province has much depleted. Today, the firm along with its partner PT Pertamina concentrates in Cepu, Central Java where it had discovered a huge oil reserve. The Cepu block is expected to start production in 2004.
Asep did not specify if the firm is eying the existing blocks in eastern Indonesia or new blocks to be offered by the government. But, the Ministry of Energy and Mineral Resources has said it would offer 46 blocks this year. Besides, the ministry has opened data room for dozens of block whose current owners are looking for farm-in investors.
Editing by Johannes Simbolon