Tue, 29 Aug 2006
ExxonMobil trying to expedite Cepu Block development


Jakarta (ANTARA News) - The management of ExxonMobil Oil Indonesia (EMOI) is trying hard to expedite development of the Cepu oil/gas block project in East Java to start turning out oil and gas in 2008 in compliance with the government`s request, an EMOI executive said.

ExxonMobil Oil Indonesia (EMOI) President Director and General Manager Peter J Coleman said here Tuesday the company was endeavoring to reach the Cepu oil/gas block development target in 2008, although it won`t be able to reach full production capacity in 2008.

"ExxonMobil and Pertamina (state oil and gas company) were having discussions with BP Migas (oil industry regulating body) to seek alternative upon target set by the government on its Plan of Development (PoD)," he told journalists after meeting with Vice President Jusuf Kalla at the vice presidential office.

Coleman said, starting with small volumes of production was one of alternatives to be taken in a bid to meet the government`s request.

"In principle, we wish to reach the target as soon as we can. Probably we can start turning out a smaller quantity (of oil and gas) in 2008," he said.

Coleman said his office could understand the target set by the government that the company should begin producing oil in 2008. However, the management also needed to choose alternatives which would be implemented. The Cepu oil/gas block was expected to produce some 180 barrels of oil per day.

The meeting with the Vice President among other things touched on the follow up of EMOI investment in Indonesia including explorations in the Solewana block, Central Sulawesi, he said.

Meanwhile, Kardaya Warnika, head of BP Migas, said his office had held discussions on authorization for expenditure (AFE) with EMOI.

"The government should be careful in giving approval to the budget proposed by the (mining) operator because the budget will become the government`s burden and be included in cost recovery," Kardaya added.(*)



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