Cepu crude to be heavy, sour<\/p>\n
SINGAPORE (Dow Jones): Exxon Mobil Corp. Friday said it will
\nproduce sour crude oil from its Banyu Urip field, in the Cepu
\ntechnical assistance contract in East Java, in the first
\nsignificant sour crude production from Indonesia.<\/p>\n
The crude will be waxy sour crude, with an API of 32, said
\nJulia Tumengkol, spokeswoman for ExxonMobil Oil Indonesia Inc.<\/p>\n
API is a measurement of the weight of crude oils, whereby a
\nrelatively low API indicates a heavy crude and a high API
\nindicates a lighter grade. 34 API is the midpoint of the range of
\ncrude grades.<\/p>\n
Exxon Mobil plans to begin production from the Cepu block at
\n25,000 barrels a day in 2003, ramping up to 100,000 barrels per
\nday by 2004, Tumengkol said.<\/p>\n
Exxon Mobil is still in negotiations with Indonesia oil
\ncompany Pertamina over terms for developing the Cepu block. Exxon
\nMobil wants to extend the expiry date of the technical assistance
\ncontract, and Pertamina wants more than a 10 percent stake in the
\nblock, an industry source said.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/cepu-crude-to-be-heavy-sour-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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