A number of Australian juniors have attempted to develop the field in the last 10 years, none successfully. The POD is required of all Indonesian oil and gas concession holders immediately prior to implementation of a field development program.
According to CEC's president and CEO, Richard L. McAdoo, "The key goals of the POD are to determine and estimate the volume of the Bangkudulis oil reserves, to design and recommend an appropriate plan for drilling, construction and exploitation, to design surface production facilities required to sustain cost effective field exploitation and to evaluate the economic merits of commercial development of the Bangkudulis Field."
According to McAdoo, there are current three stakeholders in the field. Aside from CEC (represented by its GAT Bangkudulis Petroleum Co Ltd subsidiary), the other players are the Indonesian government and Indonesia's national oil company Pertamina.
