EXPLORATION

ExxonMobil looks for higher equity in Aceh block

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

ExxonMobil looks for higher equity in Aceh block

“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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