ExxonMobil signs PSC for Indonesia's Mandar block

March 27, 2007
ExxonMobil Exploration & Production Indonesia (Mandar) Ltd. has signed a production-sharing contract with Indonesia for Mandar block in the Makassar Straits off West Sulawesi.

By OGJ editors
HOUSTON, Mar. 27 -- ExxonMobil Exploration & Production Indonesia (Mandar) Ltd. has signed a production-sharing contract with Indonesia for Mandar block in the Makassar Straits off West Sulawesi.

ExxonMobil was the successful bidder for block in Indonesia's 2006 exploration tender round; the company holds 100% participating interest.

Mandar block, which covers 4,200 sq km, is in the Southern Makassar basin in water as deep as 2,000 m.

ExxonMobil said Mandar block ownership augments its acreage position in the Makassar Straits, where it also has a PSC in place for Surumana block from a previous tender round.