{
    "success": true,
    "data": {
        "id": 1586734,
        "msgid": "extend-exxonmobil-contract-for-cepu-block-bahlil-reveals-key-negotiating-points-1772611769",
        "date": "2026-03-04 13:50:24",
        "title": "Extend ExxonMobil contract for Cepu Block, Bahlil reveals key negotiating points",
        "author": "",
        "source": "VIVA",
        "tags": "bisnis",
        "topic": "Energy",
        "summary": "Indonesia's energy minister said talks with ExxonMobil over extending the Cepu Block contract, due to expire in 2035, are ongoing. The government seeks terms that maximise state revenue, with the current 45% Pertamina, 45% ExxonMobil and 10% BUMD shareholding likely to be renegotiated; the Banyu Urip field has seen output rise to around 180,000 barrels per day following BUIC.",
        "content": "<p>Jakarta \u2014 Energy and Mineral Resources Minister Bahlil Lahadalia said\nIndonesia is still negotiating with ExxonMobil regarding an extension of\nthe Cepu Block contract at the border of East and Central Java. \u2018The\nExxon extension is currently under negotiation,\u2019 he told reporters at\nthe Ministry of Energy and Mineral Resources in Jakarta on Tuesday, 3\nMarch 2026. He explained that the contract for managing Cepu Block by\nExxonMobil Cepu Limited (EMCL) was due to end in 2035. The current\nshareholding composition for Cepu Block is 45% owned by Pertamina, 45%\nby ExxonMobil, and 10% by a regional government-owned corporation\n(BUMD). \u2018From 2035 onwards, because they have discovered some new\nresources, there is a desire to extend,\u2019 he said. The extension is what\nBahlil acknowledged is still in negotiation. The points discussed in the\nnegotiations concern revenue sharing from production, including how much\ngoes to the government and how much to the company. In the negotiations,\nBahlil stressed that government revenue rights were far more important,\nso he is considering the option that would be most beneficial for the\ncountry. \u2018We haven\u2019t yet found a consensus on that, but in principle we\nhave agreed on the other aspects,\u2019 he said. The Banyu Urip field in Cepu\nBlock, Bojonegoro, East Java, is one of Indonesia\u2019s largest oil fields\noperated by ExxonMobil Cepu Limited (EMCL). Before the Banyu Urip Infill\nClastic (BUIC) project, Exxon production reached only 150,000 barrels\nper day. Now, after BUIC, the figure has risen to 180,000 barrels per\nday, or about 25\u201330% of national oil output.<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/extend-exxonmobil-contract-for-cepu-block-bahlil-reveals-key-negotiating-points-1772611769",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}