IndonesiaÆs state oil and gas firm PT Pertamina and US oil giant ExxonMobil Corp are expected to officially sign today March 15 an agreement to jointly operate the Cepu oil block.
This could end a highly-political, protracted, four-year dispute over the $2.6 billion plan û but the end is nigh call has been sung out before to develop the country's biggest untapped oil field, which straddles the border of East Java and Central Java.
And as has been said every other time Pertamina and ExxonMobil appeared close to getting down to brass tacks of actually producing oil, which isnÆt expected til 2008 anyway û analysts tout it...
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