East Natuna Block
In 1980, ExxonMobil signed a Production Sharing Contract (PSC) for East Natuna block located in the South China Sea. Resource is estimated to contain around 222 trillion cubic feet of wet gas with almost 46 trillion cubic feet of recoverable hydrocarbon gas.
In August 2012, a consortium consisting of Esso Natuna Ltd. (ExxonMobil affiliate), PT Pertamina (Persero) and PTT Thailand signed a restated principles of agreement (POA) with the Indonesian government for a new PSC to develop East Natuna. In December 2015, the government of Indonesia agreed to extend the POA for 30 months, acknowledging the need to further assess and review technology and global market condition in order to find a way to commercialize the resources.