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Pertamina, Exxon to set up JV to manage Cepu block(Asia In Focus Via Thomson Dialog NewsEdge)JAKARTA, Jan 13 Asia in Focus - State-owned oil and gas company PT PERTAMINA and EXXONMOBIL OIL INDONESIA have agreed to establish a joint venture to manage oil and gas fields in Cepu, Central Java. The chief of the negotiating team for the Cepu Block, Roes Aryawijaya, said here on Thursday the two contractors were still negotiating on who would be the head of the joint venture. * "Who will be the leader will be discussed by the ministers concerned this month," said Roes, who is also deputy to the minister of state-owned companies, for mining, strategic industries, energy and telecommunications. * He said the joint venture would function as an operator of Cepu Block which is estimated to have a production capacity of up to 200,000 barrels of oil per day. SUMMARY Pertamina, ExxonMobil agree to set up joint venture to manage oil and gas fields in Cepu, Central Java ASIA IN FOCUS 13-01 1203 |