BTW, here's a start on one of these frontier basins. This is located between Sulawesi and Borneo.
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Exxon Mobil's central blocks may hold 1B barrels of oil
Jakarta, August 11, 2008 - Exxon Mobil Corp.'s two deepwater blocks in central Indonesia could have one billion barrels of oil equivalent in reserves, a company official said, quoted by Reuters.
The official, who declined to be named, said the company is conducting a seismic survey on the Surumana block and adjacent Mandar block in the Makassar Strait.
Exxon Mobil Oil Indonesia Inc.'s spokesman Maman Budiman declined to comment on the probable oil and gas reserves contained in the blocks, which lie 2,300 meters below sea level, saying only that the company is waiting for the delivery of a "special rig" to start exploration there.
He said the government has given the company until 2009 to start exploration of the Surumana block and 2010 for Mandar.
Plus they've been recently auctioning off more blocks.
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Indonesia awards more oil/gas exploration rights
Fri Oct 31, 2008 5:36am EDT
JAKARTA, Oct 31 (Reuters) - Indonesia has awarded more oil and gas exploration rights on nine blocks to energy companies including U.S. firm Hess Corp (HES.N), a senior mines and energy ministry official said on Friday.
It has been offering new exploration rights and financial incentives for exploration in a bid to stem its steady production decline, which has turned the former OPEC member into a net importer of crude oil in recent years.
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Earlier this month, Indonesia awarded oil and gas exploration rights on 22 blocks to energy companies including Chevron Indonesia, a unit of U.S. oil major Chevron, and Conoco Phillips.
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