"We will drill two appraisal wells in Banyu Urip this month," Maman Budiman said.
He added that the partners continue clearing lands in Cepu to accelerate production from the block.
Cepu block is estimated to hold 600 million barrels of oil and 1.7 TCF of gas. Banyu Urip is estimated to hold 250 million barrels of oil.
Via: Scandinavian Oil & Gas
Exxon Mobil sued in New York spill
New York state officials acting on a five-month-old threat sued Exxon Mobil on Tuesday for spilling millions of gallons of oil in a Brooklyn neighborhood and then taking decades to clean it up.
The lawsuit accuses Irving-based Exxon of doing too little to mop up a huge underground oil plume lying beneath businesses and homes in Greenpoint, a section of the borough ringed by defunct refineries.
Exxon Mobil accepted responsibility for much of the spill years ago and since the early 1990s has been operating a network of pumps to suck pollutants out of the ground.
In February, Attorney General Andrew Cuomo declared that the cleanup was taking too long and began the process of filing a lawsuit. Negotiations since then have failed to resolve the dispute. An Exxon Mobil spokesman, Barry Wood, called the allegations "unfounded."
Benefits. Disclosure at issue in credit rating
While New York-based Fitch said it expects Texas to fund its liability, it said it would consider the state's approach to reporting the weakness as well as the size of the liability when reviewing the state's credit standing.
In June, Standard & Poor's said the law wouldn't hurt Texas' bond ratings.
Tags: Indonesia,ExxonMobil,Pertamina
