Disputed: a platform in Indonesia's Natuna Sea
ExxonMobil 'fulfilled Natuna terms'
ExxonMobil said today it had fulfilled its obligations under a production-sharing contract (PSC) for the huge Natuna offshore gas field terminated by Indonesia because of high extraction costs and a lack of buyers for the gas.
ExxonMobil and its partner, Indonesia state energy form Pertamina, "are fulfilling all the Natuna (PSC) obligations to satisfy conditions for commencing development," said ExxonMobil spokesman Russ Roberts.
"ExxonMobil is committed to continue implementing the Natuna PSC with the objective of commencing development activities as soon as prudent to do so," he said.
Roberts also said if the conditions for development of the field are not met by 8 January 2007, then the contract allows for two more years for the companies to satisfy conditions or proceed with development.