The High Cost of Cepu Oil - Cover Story - magz.tempo.co

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The High Cost of Cepu Oil

Tuesday, March 28, 2006

The production-sharing formula on Cepu may not be profitable. The results of the audit could be in doubt.

. tempo : 172849435096.

ABDUL Mutalib Masdar still remembers his encounter with an expatriate working for ExxonMobil on a three-dimensional seismic survey in Bayu Urip, in the East Java district of Bojonegoro three years ago. Abdul, a geologist, was told that 32 expats worked on the project from 2000 to 2001. Its a waste of money [with too many working on the project], he told Tempo on Wednesday last week.

Abdul, who is Chairman of the Indonesian Association of Geologis

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