Exxon Evaluating CBM Blocks in Indonesia

ExxonMobil Indonesia is evaluating several blocks of coal bed methane (CBM) located in Banjarmasin, South Kalimantan.

Currently, ExxonMobil owns 49 percent stake in several exploration blocks in Banjarmasin, South Kalimantan, such as the Tapin Block, the Banjar 1 block and Banjar 2 block, with a total area of 2.400 square kilometres, Indonesia Finance Today reported. 

In the development of these blocks, ExxonMobil works with Sugico Mok Energy Corp., which owns 51 percent stake in the working areas.

Indonesia needs investment of $505 million to build CBM production facilities up to 2014.  The government is targeting CBM production to reach a minimum of 500 MMSCFD in 2015, the report said.