JAKARTA, 04 August 2005 - ConocoPhillips, the largest U.S. oil refiner, won the right to explore and develop a field in Indonesia, Southeast Asia's biggest oil producer. ConocoPhillips secured the contract to develop the Amborit VI block off the coast of Papua, Novian M. Thaib, director of exploration and production at the Energy and Mineral Resources Ministry, told reporters in Jakarta today. The government named winners of nine exploration blocks today, which included a unit of PT Energi Mega Persada.

The nine companies will spend $102.5 million in the next three years exploring for energy resources. Indonesia is seeking new oil and gas reserves to replace aging fields and increase production. The government has scrapped taxes on equipment imported for exploration. New contracts in the areas offered today will be exempted from import duty and value-added taxes.

Indonesia currently gets 70 percent of the revenue from gas fields while companies such as Unocal Corp., Exxon Mobil Corp. and Total SA get 30 percent. The government gets an 85 percent share of the revenue from oil fields and 60 percent from fields in remote areas.

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