Exxon Mobil Plans to Drill Wells in Indonesia

Thursday, October 05, 2006
Exxon Mobil plans to drill three exploratory wells in an Indonesian offshore oil block over the next three years, a company official said on Wednesday. Exxon Mobil signed an oil contract with the Indonesian government last month 2,062 sq mile of the offshore Surumana block in the Makassar Straits. The government had said that in the case of Surumana, any oil find would be split 65:35 percent between government and contractor. Meanwhile, any gas find would be split 60:40 percent. Officials say Indonesia still has around 4.1 billion barrels of proven oil reserves and about 4.5 billion barrels in potential reserves. Currently Exxon Mobil has several oil and gas working areas in Indonesia, including in Cepu block on Java island. The Cepu block is Indonesia's biggest oil discovery in decades and should boost the country's output by a fifth once production begins in late 2008. Source: Reuters

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter July 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

Swiber Applies for Judicial Management Instead of Liquidation

Singapore oilfield services company Swiber Holdings Ltd said on Friday it has applied to place itself under judicial management instead of liquidation.   Swiber

US Oil Drillers Add Rigs for 5th Week in a Row

U.S. drillers this week added oil rigs for a fifth consecutive week, Baker Hughes Inc said on Friday, but the oilfield services provider and some analysts cast

Det Norske to Restore Production at Alvheim after Leak

Norwegian oil firm Det norske said it expected to reach full production at its Alvheim FPSO (floating storage, offloading and producing unit) overnight after a leak,

Cruise Ship Trends

New 'Mega Passenger Ship' for Star Cruises

Elomatic Ltd and Deltamarin Ltd have signed a tri-party engineering contract with shipbuilder MV Werften for the design of Star Cruises’ new Global Class “mega passenger ship,

Can Bandwidth Supply Keep up with Maritime Demand?

In the next few years, demand for bandwidth on the high seas will grow, in no small part due to technology that is making operations more efficient and keeping crews and passengers healthy,

Summer Cruise to North Sea Oil Rigs Amazes Tourists

Bored with palm-fringed beaches and turquoise seas? Then the gigantic oil platforms of the North Sea beckon. The first ever "rig-spotting" cruise just ended off the coast of Norway,

 
 
Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair Ship Simulators Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0724 sec (14 req/sec)