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ExxonMobil increases investment in Indonesia's Cepu block

 Last Update: 2022-01-23
 Source: Internet
 Author: User

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According to the Voice of Energy on December 30, 2021, US oil giant Exxon Mobil plans to increase its investment in the Cepu block of Indonesia by US$170 million

The investment is expected to increase oil production by 20,000 barrels per day

In September, Exxon Mobil said it planned to restart exploration drilling in Indonesia's Cepu block, despite rumors that it intends to relinquish its interest in the block to find new reserves

Total production from the Cepu block reached 500 million barrels of oil, SKK Migas said in October, exceeding the 450 million barrels target in the original plan of development (PoD)

Based on recent technical studies, the Banyu Urip field's reserves increased to 940 million barrels, more than double the initial estimate of 450 million barrels, SKK Migas said

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