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Govt, Inpex agree on 'substantial matters' over Masela
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Energy and Mineral Resources Minister Ignasius Jonan (right) shakes hand with Inpex Corp. CEO Takayuki Ueda in Tokyo on Monday after they agreed on the final plan of development of the gas-rich Masela Block in the Arafura Sea. (Courtesy of/ESDM Ministry)
U
ncertainties over the development of the gas-rich Masela Block in eastern Indonesia will likely come to end as the Indonesian government and Japan’s Inpex Corp. have reached an agreement on “substantial matters”.
The Indonesian government has targeted to ink the final plan of development (PoD) of the block by the end of June this year during the G20 Summit in Japan.
Energy watchdogs lauded the development as a positive step to ending the uncertainty related to the development of the Masela Block, touted the largest in Southeast Asia.
“The final signing of the agreement between the government and [Masela Block contractor] Inpex Corp will take place during the G20 Summit in Japan,” Energy and Mineral Resources Minister Ignasius Jonan said Monday in a press statement.
The 14th G20 Osaka Summit will be held on June 28 and 29 in Osaka, Japan. Indonesia and Japan are G20 members.
Jonan’s statement came after an unofficial final PoD of the Masela Block was agreed on Monday by the government and Inpex Corp., which holds a 65 percent stake in the block.
The agreement came during Jonan's visit to Japan on Monday to meet Inpex Corp. CEO Takayuki Ueda in Tokyo. It was the second meeting for both parties after their meeting on May 16 also in Tokyo.
