ExxonMobil may cancel Aceh asset sale plan
Wednesday, July 4 2012 - 08:15 AM WIB
ExxonMobil Indonesia (EMOI) said on Thursday it may cancel its plan of selling its Aceh oil and gas assets as its holding company, ExxonMobil Corp., has yet to give a greenlight for the execution of the plan.
?We have opened (ourselves) to the market to assess the interest in the assets. However, (the holding company) has yet to make a decision whether to go ahead with the asset sale,? Asep Sulaiman, EMOI?s Vice President of Exploration & External Relations, told Petromindo.com
?Once such a decision has been made, we shall start talks with prospective buyers,? he said.
EMOI announced in August last year its plan of selling its assets in Aceh after operating there since 1970s. The assets include he assets include the Arun field and Arun satellite fields, and the North Sumatra Offshore field. The Arun fiel is the supplier of gas to the Arun LNG plant.
Several companies have voiced interest in the assets, including a consortium comprising state owned fertilizer firm PT Pupuk Sriwijaya (Pusri), PT Medco Energi Internasional and state owned gas distributor PT Perusahaan Gas Negara; the consortium of PT Intera Arun Energi, PT Ratu Prabu Energi and Triangle Energy; PT Energi Mega Persada, which is an affiliate of the Bakrie Group; and little known company called Mandiri Oil.
Editing by Johannes Simbolon