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CBM Asia and ExxonMobil negotiate possible JV in Indonesia


Published Nov 12, 2012
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CBM Asia Development Corp.

CBM Asia Development Corp. is in negotiations with ExxonMobil to farm into three existing coalbed methane production sharing contracts (PSC) in the Barito Basin, South Kalimantan, Indonesia and acquire rights to farm into certain additional PSCs in the Kutai Basin, East Kalimantan. CBM Asia and ExxonMobil would hold equal ownership interest in each PSC.

The final terms and conditions of the proposed farm-in remain subject to the negotiation and execution of formal agreements between ExxonMobil and CBM Asia, as well as, among other conditions, government approvals.

Tags: CBM Asia Development Corp., Exxon Mobil Corporation



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