ExxonMobil, Ampolex and Pertamina to explore Indonesia
Posted: 20 March 2006
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ExxonMobil’s subsidiary Mobil Cepu and Ampolex have signed a Joint Operating Agreement with P.T. Pertamina EP Cepu, a subsidiary of P.T. Pertamina, for the Cepu Contract Area located in East and Central Java, Indonesia.
The agreement enables the parties to develop the discovered resources in Cepu and further explore the block during the thirty-year contract period. The agreement also provides the basis for joint development of the block, which will be managed by the parties under a Joint Operating Committee.
Pertamina and ExxonMobil each will provide management oversight, technology and manpower under the agreement.
Rex Tillerson, Chairman and Chief Executive Officer, Exxon Mobil Corporation, said; "We look forward to working with Pertamina and the Government of Indonesia to bring this important new resource on production. Cepu exemplifies our long-term commitment to invest in opportunities that bring new supplies to market and enhance our global portfolio."
Posted by Editor Pipeline Magazine
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