The likes of ExxonMobil, Total SA and ChevronTexaco were named by the head of Indonesia’s Acreage Management Division of the Indonesian Directorate General of Oil and Gas, R. Priyono.
In an interview with Reuters, the official said, “There are some companies, such as Exxon, Caltex, Total and Amerada Hess [which are] particularly keen on three blocks, designated as North East Madura III, IV and V, located off the north east shore of Madura island, East Java, about 850 km east of Jakarta.”
“[Others interested] include Malaysia’s Petronas and US oil major ConocoPhillips,” added Priyono.
While Priyono did not divulge the reserve estimates of the three blocks, the official did say it could be as large as the ones found at the Cepu Block, which Indonesia authorities put at 500 million barrels and ExxonMobil at 250 million barrels.
Currently, Indonesia has 20 oil and gas blocks open for tender but plans to boost reserves and production by opening up to 50 oil and gas areas over the next five years.
