Exxon To Part With Some Indonesia Assets

Printer Friendly Version

Exxon Mobil, the largest U.S. oil company, said today it will sell assets in Indonesia, including Mobil Exploration Indonesia, ExxonMobil Oil Indonesia and Mobil Indonesia LNG, as part of its previously announced global asset sales plan. The company will still maintain a presence in the Southeast Asian country.

Texas-based Exxon Mobil (XOM) said ExxonMobil Oil Indonesia has a 100% stake in the Arun LNG field and its satellite fields of South Lhoksukon A & D, and Phase A & B onshore; Mobil Exploration Indonesia holds a 100% stake in the North Sumatra Offshore field; while Mobil Indonesia LNG holds a 30% stake in the Arun LNG processing plant, Platts reported.

The company said production at the fields has been in decline. Last year, the fields combined for an average of 215 million cubic feet in daily natural gas production, well below the 1994 peak of 3.4 billion cubic feet per day. Potential buyers for the assets were not identified in various press reports.

The assets in Indonesia that Exxon is parting with are at the center of potential legal proceedings with Indonesian villages that accuse the oil giant of murder, torture and other atrocities in Aceh province between 1999 and 2001, Reuters reported.