Tue, 09 Aug 2011
From: The Jakarta Post
By From: The Jakarta Post
By Rangga D Fadhillah

US-based ExxonMobil says it is selling its shares in three companies associated with gas and liquefied natural gas (LNG) producing operations in Aceh Mobil Exploration Indonesia, ExxonMobil Oil Indonesia and Mobil Indonesia LNG.

The company reported in a press statement sent to The Jakarta Post on Monday that the to-be-sold assets included the Arun field and the North Sumatra offshore field. According to the company's data, as of 2010, those assets had an annual production rate of 215,000 standard cubic feet of gas per day (mscfd).

“The shares marketed do not involve ExxonMobil's other projects or interests in Indonesia,” read the statement.

The decision to sell the shares is consistent with the company's long-standing practice of continuously reviewing assets for their contribution to the company's operating and financial objectives, the statement added.

ExxonMobil has been operating in Indonesia for more than 100 years. Its current projects cover the Cepu block in Central Java, East Natuna in Riau Islands and the coal bed methane (CBM) evaluation in Kalimantan.



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