INDONESIA PRESS-Exxon, Niko hand back oil and gas blocks - Kontan

Tue Apr 7, 2015 10:09pm EDT
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Exxon Mobil Corp has returned four oil and gas blocks to the Indonesian government after exploration studies found reserves were not economical for the firm to extract, the Kontan newspaper reported, quoting ExxonMobil Indonesia vice-president for government affairs Erwin Maryoto.

The blocks returned were the Cendrawasih block in Papua, the Gunting block in East Java and the Surumana and Mandar blocks in the Makassar Strait.

Separately, Niko Resources will also return six blocks to the government after oil and gas regulator (SKKMigas) said its exploration contracts would not be extended. These blocks are the Ganal, Bone Bay, West Sageri, Semai V, Seram and South Matindok. ----

Note: Reuters has not verified this story and does not vouch for its accuracy.

(Compiled by Jakarta Newsroom; Editing by Prateek Chatterjee)