Exxon Exits Three Indonesia Blocks

摘要

Exxon Mobil is returning three upstream licenses to the Indonesian government after the assets failed to deliver sufficient value to the US supermajor. The licenses in question are the offshore Surumana and Mandar production sharing contracts in the Makassar Straits and the Gunting Block in East Java. Exxon holds 80% of Surumana, with Malaysia's state Petronas holding the other 20%, and 100% in both Mandar and Gunting.