Здравствуйте. Вся информация этого сайта бесплатна. Вы можете сделать пожертвование и поддержать наше развитие. Спасибо.

Hello. All information of this site is free of charge. You can make a donation and support our development. Thank you.

2017-07-21 08:45:00

EXXON LEAVES INDONESIA

EXXON LEAVES INDONESIA

OGJExxonMobil Corp. has decided to walk away from development of the East Natuna natural gas permit in Indonesia saying it no longer wishes to continue discussions or activity in the block.

The major's decision comes in the wake of a comprehensive technology and marketing review that concluded the block is uneconomical for the company under the current terms. Despite the withdrawal, ExxonMobil is reported to have offered to help with technology and technical assistance for the development project if needed.

East Natuna, first discovered by Italian company Agip in 1973, holds an estimated 46 tcf of recoverable gas in a Miocene reservoir and is one of the world's largest untapped gas fields.

However, ongoing difficulties for development include remoteness of the block, which lies in the Greater Sarawak basin 225 km northeast of the Natuna Islands off Borneo and 1,100 km north of Jakarta, as well as the fact that the gas has a carbon dioxide content of 70%.

There have also been a series of contract disputes over the years. Indonesian state company Pertamina and ExxonMobil first formed a partnership at the field in 1980. Several agreements were signed and then terminated during the early 2000s including a deal between Pertamina, ExxonMobil, French company Total SA, and Malaysian state firm Petronas in 2011. Petronas and Total have subsequently pulled out of the field and Thai company PTTEP joined Pertamina and ExxonMobil hoping to sign a production-sharing contract in 2016. This was not consummated either.

Development costs for the field, which lies in 145 m of water, are estimated to be as much as $40 billion.

Pertamina and the Indonesian government are still keen to develop East Natuna and the government is reported to be considering a special incentive to improve the economics and bring ExxonMobil back to the negotiating table.

-----

Earlier: 

 EXXON:    INDONESIA:
     

QATAR - EXXON COOPERATION

 

INDONESIA NEEDS $80 BLN INVESTMENTS

EXXON NET INCOME $4 BLN

 

IRAN - INDONESIA COLLABORATION

EXXON - ROSNEFT PERMISSION

 

INDONESIA LEAVES OPEC

EXXON INVESTMENTS: $22 BLN

 

CONOCO SELLS INDONESIA

DEDICATION TO EXXONMOBIL

 

MALAYSIAN - INDONESIAN LNG

EXXON VS CHAD: $74 BLN

 

WBG WANTS INDONESIA

SHELL & EXXON COMPETITION

 

ROSNEFT & PERTAMINA COOPERATION

     

 

 

Tags: EXXON, MOBIL, INDONESIA, GAS

Chronicle:

EXXON LEAVES INDONESIA
2018, July, 16, 10:35:00

CHINA'S INVESTMENT FOR NIGERIA: $14+3 BLN

AN - China National Offshore Oil Corp. (CNOOC) is willing to invest $3 billion in its existing oil and gas operation in Nigeria, the Nigerian National Petroleum Corporation (NNPC) said on Sunday following a meeting with the Chinese in Abuja.

EXXON LEAVES INDONESIA
2018, July, 16, 10:30:00

LIBYA'S OIL DOWN 160 TBD

REUTERS - Production at Libya’s giant Sharara oil field was expected to fall by at least 160,000 barrels per day (bpd) on Saturday after two staff were abducted in an attack by an unknown group, the National Oil Corporation (NOC) said.

EXXON LEAVES INDONESIA
2018, July, 16, 10:25:00

BAHRAIN'S GDP UP 3.2%

IMF - Output grew by 3.8 percent in 2017, underpinned by a resilient non-hydrocarbon sector, with robust implementation of GCC-funded projects as well as strong activity in the financial, hospitality, and education sectors. The banking system remains stable with large capital buffers. Growth is projected to decelerate over the medium term.

EXXON LEAVES INDONESIA
2018, July, 16, 10:20:00

NIGERIA'S GDP UP 2%

IMF - Higher oil prices and short-term portfolio inflows have provided relief from external and fiscal pressures but the recovery remains challenging. Inflation declined to its lowest level in more than two years. Real GDP expanded by 2 percent in the first quarter of 2018 compared to the first quarter of last year. However, activity in the non-oil non-agricultural sector remains weak as lower purchasing power weighs on consumer demand and as credit risk continues to limit bank lending.

All Publications »