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How Not to be a Laughing Stock

Tuesday, May 13, 2003

Negotiations on the Cepu oilfields have resumed. Kwik Kian Gie is loath to see Cepu remain in Exxon's hands, but Pertamina does not show convincing signs of any business acumen.

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Since the Government's Board of Commissioners on Pertamina (DKPP) questioned the Cepu oil exploitation contract on August 2002, there has not been any significant progress. One negotiation after another has been conducted, yet no agreement has been reached. At first, the obstacle lay with ExxonMobil Oil Indonesia. They had suggested that the exploitation contract on Cepu oilfields _ between the borders of Central and East Java _ be extended

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