Japanese firm asks for extension of gas block contract in Indonesia

Source:Xinhua Published: 2013-9-18 17:31:58

Japanese oil and gas firm, INPEX Corporation on Wednesday requested to the Indonesian government over the extension of its contract at gas block in eastern part of the country, a minister said here.

Indonesian Energy and Mineral Resources Minister Jero Wacik made the statement after he accompanied President and Chief Executive Officer (CEO) INPEX Toshiaki Kitamura meeting with Indonesian President Susilo Bambang Yudhoyono at the State Palace.

Marsela gas block located in Maluku province was expected to produce an initial production of 2.5 MTPA for 30 years, a release from INPEX said.

The minister said that the first phase of the contract was to expire by 2028.

INPEX, as operator, with Shell as a strategic partner, is developing the gas block also known as Abadi gas block into a " Green-Field Project", using floating LNG technology as a pioneer technology concept.

INPEX has been in Indonesia for more than 47 years since its establishment in 1966. The firm has carried out 41 projects, and now is actively undertaking 12 on-going exploration and production projects in offshore blocks from Aceh province in western Indonesia to Maluku province in eastern part of the country.

So far, the firm has invested about 21 billion US dollars in Indonesia, making it one of the Japanese biggest investors in the country.

Posted in: Asia-Pacific

blog comments powered by Disqus