Exxon Seeking Partners For Indonesia Coalbed Methane Project

ExxonMobil is seeking partners for its 49% interest in three coalbed-methane blocks--Banjar-1, Banjar-2 and Tapin--in East Kalimantan, Indonesia.

The company is reportedly offering half of its working interest in the blocks, where initial results are reported to be encouraging. Indonesia's PT Sugico Graha holds the remaining 51% interest in the blocks.

A multi-well work program will be conducted over the next two years to prove commerciality and lay the groundwork for full development plans, according to IndigoPool, the mergers and acquisitions arm of Schlumberger Ltd. which is acting on behalf of Exxon.