Speaking to the media Purnomo said, “The government wants the development of Cepu quickly because it will have an impact boosting national oil production.”
As reported earlier by EnergyReview.net, the block is under a TAC between Pertamina and ExxonMobil. Pertamina has declared many times it wants to develop Cepu on its own and ExxonMobil will only invest more in the block if it can get the TAC extended.
It is understood the development of the block, located onshore Java, could produce up 100,000 bopd or around 10% of the country’s current output. Indonesia’s oil production has been in decline due to aging fields and torpid investment in the sector and the country is currently struggling to meet its OPEC quota.
