ExxonMobil finds oil in East Java

State-owned oil and gas company Pertamina said Wednesday ExxonMobil had discovered significant oil reserves in its Cepu Technical Assistance Contract (TAC) area in Cepu, East Java.

Pertamina's exploration and production director Gatot K. Wiroyudo told Petromindo.com that the finding was reported to Pertamina last week.

Gatot did not disclose the amount of reserve saying that ExxonMobil had not provided Pertamina with the full report yet.

"All I can tell you now is the amount of the reserve identified is significant," said Gatot.

According to Gatot, Pertamina was entitled to acquire 10 percent interest in Cepu TAC, but he said Pertamina was approaching ExxonMobil to get more. (Alex)