ExxonMobil has pulled the plug on talks about the East Natuna gas block in Indonesia, a news report said.
Erwin Maryoto, the firm’s vice-president of public and government affairs, told Reuters the decision was taken after completing a “technology and market review”.
The East Natuna field is thought to contain one of the largest uncorked gas reserves in the world.
Indonesian-state energy firm Pertamina had expected to sign a production sharing contract with Exxon and Thailand’s PTTEP for the project last year.
“We remain committed to our Indonesia operations and continue to seek and evaluate new opportunities in the country,” Maryoto added, Reuters reported.