ExxonMobil Opens Investment Opportunities for Petrochemical Sector in Indonesia

INDUSTRY.co.id - Jakarta, US-based company ExxonMobil opens opportunities for new investment expansion plans in Indonesia.

This is revealed from the results of ExxonMobil Production President Nell W. Duffin's visit to the office of Vice President / Vice President Jusuf Kalla, today, Thursday (22/3/2018).

After the meeting, Chairman of Vice Presidential Team Sofjan Wanandi said the US-based company requested support from Jusuf Kalla for what will be done in Indonesia.

They (ExxonMobil) have investment plans in the petrochemical and other sectors, Sofjan said.

He added that on the occasion, Exxon also told the condition of upstream oil and gas globally, including the geopolitics of the Middle East, Venezuela and Nigeria.

In addition, the company from the United States said the oil and gas business conditions are quite tight, especially gas shale. Conditions that make oil prices can not reach the level as before.

However, he added, Exxon did not close the investment opportunities in the upstream sector, including following the auction of oil and gas blocks or oil and gas held by the Ministry of Energy and Mineral Resources (ESDM) last Feuary.

In addition to investment plans, added Sofjan, other things discussed in the meeting is a celeation of the 120th anniversary of the establishment of Exxon Mobil in Indonesia. As is known, one business company from the United States in Indonesia is the operator Field Banyu Urip in Block Cepu.

According to Sofjan, the field performance is very good. The indicator is that production can reach 240,000 barrels per day (bpd) or 25% of national production. In addition, they can be efficient so they can push the lowest possible cost.