Eric Watkins
Senior Correspondent
LOS ANGELES, Feb. 14 -- ExxonMobil Oil Indonesia said it will let its production-sharing contract for three natural gas blocks in Aceh, Indonesia, expire in 2018.
Maman Budiman, vice-president of public affairs at the Indonesian unit, said gas reserves on the B Block, Pase Block, and North Sumatra Offshore Block don't warrant extension of the contract.
The blocks produce 1 bcfd of gas, but production is declining, Maman said. The gas is committed to LNG contracts that will expire in 2014.
Contact Eric Watkins at [email protected].
