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View all search resultsInpex reviewing market survey for Masela block
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Masela gas use for petrochemicals industry (The Jakarta Post/file)
J
apan’s Inpex has said it is still reviewing the results of a market survey conducted to find companies to assist it in composing the Masela block’s pre-front end engineering design (pre-FEED).
The market survey was carried out from June 2 to June 15 in order to observe the enthusiasm of engineering, procurement, construction and installation (EPCI) companies in relation to the development of the Masela block project, located in the Arafura sea.
“We are currently still reviewing the results of the market survey. Many companies participated and responded positively to the survey,” Inpex spokesman Usman Slamet told reporters on Thursday.
(Read also: Inpex to start works for Masela plan)
However, Usman declined to disclose the names and the number of companies that had shown an interest in developing the project.
The gas-rich Masela block is estimated to be able to produce 1,200 million standard cubic feet per day (mmscfd) and 24,000 barrels of condensate per day for 24 years.
While the government believes the block can begin operations by 2023, a previous plan estimated that it could start production by 2024 and start operating in 2026, just two years shy of Inpex’s and Shell’s contract expiration date.
The government has promised to amend their contract with an additional seven years. (hwa)
