THE signing of the cooperation operational contract for the Cepu Block is overdue as it should have taken place some two months ago. ExxonMobil and Pertamina are each both still insisting that they want to become the operator of this giant oil & gas field.

They both have strong arguments. Exxons is based on a memorandum of understanding made on June 25 of this year. In this MoU, it states that Mobil Cepua subsidiary company of Exxonwill be the sol