Indonesias Cepu May Hold More Oil Than Thoughtadmin
Platts reports that Indonesia’s Cepu block could hold more than the 600 million barrels of oil above previous estimated.
“It’s much better than the original estimate,” a senior oil official said without going into detail.
Cepu may also contain about 1.7 trillion cubic feet of natural gas.
ExxonMobil and state-run Pertamina each have a 45 percent stake in the block with the rest held by local governments. Production is expected to start early next year.