Exxon May Farm Out Oil, Gas Blocks in Indonesia

Exxon Mobil Corp. has plans to farm out some oil and gas exploration blocks in Indonesia.

“We want to farm out to share the risk of deep water explorations,” said Erwin Erwin Maryoto, VP Public and Government Affair of ExxonMobil Oil Indonesia as quoted by Kontan.co.id.

Maryoto said three of the blocks will be divested through farm-out scheme, while one block will be returned to the government.

Among the blocks Exxon wants to farm out are onshore Surumana, offshore Mandar block and the offshore Cendrawasih block, Maryoto said.

The company will return the Gunting block in East Java to the government.