Friday, August 08, 2008

Exxon Mobil to start exploration in West Sulawesi block late 2008

Exxon Mobil to start exploration in West Sulawesi block late 2008

Makassar, S Sulawesi - Exxon Mobil Oil Indonesia Inc will be ready to start oil and gas explorations in the Mandar Block, West Sulawesi, after completing a survey on the block's potential reserves, a company spokesman said.

"At present, the location believed to hold oil and gas reserves is still being surveyed. Hence, drilling activity can hopefully be started late this year," Vasta Choosin, public affairs manager of Exxon Mobil Oil Indonesia Inc said Tuesday.

The company's preparations in the region will require a lengthy period of about five years after initial exploration, Choosin said, adding that the investment needed could reach US$1 billion.

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