As reported by EnergyReview.net earlier, Pertamina had earlier announced it would not extend ExxonMobil’s TAC. The US giant, in turn, has stated it will take up the matter with the Indonesian government.

In a statement Widya said, “We will invite big oil companies to operate the Cepu oil field. The requirements, of course, should benefit Pertamina, the nation and, in the end, the partner.”

“However, ExxonMobil can seek a new contract to exploit reserves in Cepu if the company can agree to new government-set requirements,” he added.

Cepu has proven reserves of between 600 million to 1 billion barrels. It is believed Pertamina needs a partner to jointly develop the field as it does not have the wherewithal to operate the field.