Exxon and Hess Win Indonesia Licences

4 May 2009 (Last Updated May 4th, 2009 18:30)

Exxon Mobil and Hess have won new explorations rights in eastern Indonesia and are set to invest $66m in the first three years of the projects. The US oil giant Exxon Mobil has won rights to explore the Cendrawajh Block off Papau alongside partner company Biak Petroleum. It will invest

Exxon Mobil and Hess have won new explorations rights in eastern Indonesia and are set to invest $66m in the first three years of the projects.

The US oil giant Exxon Mobil has won rights to explore the Cendrawajh Block off Papau alongside partner company Biak Petroleum. It will invest an initial $40m.

Hess has won access to the South Sesulu Block off Kalimantan and will spend $26m during the first three years.

According to the Jakarta Post, the pair were among 11 companies awarded rights to blocks by the Energy and Mineral Resources Ministry.