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INDONESIA PRESS: Govt To Build Refinery For Cepu Block

Tuesday July 12, 2005, 12:58 pm

DJ INDONESIA PRESS: Govt To Build Refinery For Cepu Block



JAKARTA (Dow Jones)--Indonesia's government plans to build a refinery in Tuban in East Java province to process crude oil extracted from the Cepu and Jeruk oil blocks, the Jakarta Post reports.


The planned facility will be Indonesia's 10th oil refinery and will have a capacity of up to 200,000 barrels a day, the report says, citing Minister of Energy and Mineral Resources, Purnomo Yusgiantoro.


The report doesn't specify the planned refinery's investment costs nor when it will begin operations.


U.S. oil giant Exxon Mobil Corp. (XOM) and the government last month successfully concluded talks allowing the U.S. company to tap the Cepu block, which holds estimated reserves of some 600 million bbls. Analysts estimate Jeruk contains up to 500 million bbls of oil.



Newspaper Web site: http://www.thejakartapost.com



-By Jakarta Bureau, Dow Jones Newswires; 62-21-39831277; [email protected]

***Comment - Does anybody seriously still have any doubts that Jeruk is full of 'STRAIGHT A' oil (500 - 750 MILLION bbs ) at 'TARGET DEPTH WITH A COLUMN IN EXCESS OF 375 METRES'?
I mean to say, they are (INDO GOVERNMENT) already PLANNING ON building a refinery, are they not?
And further, it really wouldn't surprise to see EXXON MOBIL try and take out Santos and Cue at some stage in the future - the U.S. does have an insatiable appetite after all!***
wrxsti