Exxon: Seeking Partners For Indonesia Coalbed-Methane Project
19 Julho 2011 - 6:35PM
Dow Jones News
U.S. oil giant Exxon Mobil Corp. (XOM)said Tuesday it is seeking
partners for a coalbed-methane project in Kalimantan,
Indonesia.
ExxonMobil, the world's largest publicly traded oil company, is
offering half of its working interest in three blocks where initial
drilling results are encouraging, according to a document
announcing the sale released by IndigoPool, Schlumberger Ltd.'s
(SLB) mergers and acquisitions business.
The planned multi-well work program will be conducted over the
next two years to prove commerciality and lay the groundwork for
full development plans, according to the IndigoPool listing.
ExxonMobil spokesman Patrick Mcginn said the information
provided by IndigoPool was accurate. He declined to offer further
details.
ExxonMobil has a 49% interest in three coalbed-methane
blocks--Banjar-1, Banjar-2 and Tapin--in East Kalimantan, according
to the company's website. Indonesia's PT Sugico Graha has the
remaining 51% interest.
Large, international energy companies are rapidly adding coalbed
methane and other unconventional natural-gas resources, such as
shale and tight gas, which are harder and more expensive to extract
than conventional gas, because these resources usually have a
longer lifespan than normal gas reservoirs.
Major oil companies are also trying to be the first to export
the expertise and technology developed in recent years in North
America to international markets.
-By Isabel Ordonez, Dow Jones Newswires; 713-547-9207;
isabel.ordonez@dowjones.com
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