OGJ Newsletter

01/23/2006
General Interest - Quick TakesCepu Block discussions continueIndonesia’s State Minister for State-Owned Enterprises Sugiharto said discussions were slated for mid-January concerning operation of the oil and natural gas fields on the Cepu Block.ExxonMobil Corp. and state-owned PT Pertamina each have agreed to a 45% stake in the block with the remaining 10% going to the administrations of district areas where the oil block is located.But the two sides have failed to agree on who will operate the block. Pertamina wants an operatorship that will change hands every 5 years, with itself assuming the first 5-year term, while ExxonMobil prefers to keep to a memorandum of understanding signe...
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