As reported earlier by EnergyReview.net, Pertamina’s new President-Director Widya Purnama declared the energy giant’s contract will not be extended as Pertamina intends to takeover and develop Cepu itself.
In a statement ExxonMobil said, “We can confirm that ExxonMobil has received a letter from Pertamina regarding the status of ExxonMobil’s and Pertamina’s negotiations concerning the Cepu field. We are currently evaluating statements made in the letter and plan to discuss these with Pertamina and the government when meetings can be scheduled.”
“As a matter of practice, we do not discuss details of ongoing negotiations,” added the firm, referring to the more than two years of inconclusive negotiations between ExxonMobil and Pertamina to jointly develop the field after 2010.
ExxonMobil, under the TAC, currently holds 100% equity in Cepu.
