EXPLORATION

ExxonMobil looks for higher equity in Aceh block

Indonesian legislator, Agusman Effendi (who also happens to be the chairman of the Indonesian Par...

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“Exxon Mobil is seeking to increase its share of the revenue from Block A in Lhokseumawe to 50% from 35% due to the high sulphur content of the gas in the block [that can] boost production costs,” said Effendi, who made the statement following a closed door meeting with ExxonMobil Oil Indonesia officials.

The block, which has yet to produce gas, is 50% owned by the American company and is being operated by ConocoPhillips. If ExxonMobil gets its way, the Indonesian government will only be entitled to 50% of the revenue gleamed from the block.

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