ExxonMobil proposes joint study of E. Java block

U.S. oil firm ExxonMobil Corporation has proposed a joint study with the directorate general of oil and gas of an offshore oil and gas block in East Java, a source close to the government told Petromindo.com on Thursday.

"The minister of energy and mineral resources has yet to decide whether or not to accept the proposal," the source said.

A joint study mechanism will provide company with preferential rights to develop the oil block if enough oil and gas reserves are discovered. (Godang)