Indonesian state oil and gas company PT Pertamina said it could produce gas from the Cepu Block in East Java earlier than the target set by the block foreign operator.
Mobile Cepu Limited, a subsidiary of ExxonMobil Oil Indonesia EMOI has said it would start producing gas from Java's largest gas block in 2014.
Haposan Napitupulu, the president of Pertamina EP Cepu, said the subsidiary of Pertmina could start turning out gas in 2013 with lower cost.
Pertamina, therefore, asked EMOI to hand over the operating right over the block.
Pertamina and EMOI have the same share of 45 per cent in the Cepu Block but the US company holds the operating right.
http://www.tradingmarkets.com/news/stock-alert/xom_pertamina-claims-could-perform-better-than-emo-indonesia-in-cepu-759453.html
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