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Jakarta Post

Inpex signs deal for development of Masela Block

  • Rachmadea Aisyah and Stefanno Reinard Sulaiman

    The Jakarta Post

Jakarta   /   Mon, June 17 2019   /  12:28 am

The Indonesian government and Japanese oil and gas giant Inpex have signed a basic agreement on the development of the Abadi gas field in the Masela Block in eastern Indonesia, paving the way for the commencement of project estimated to be worth between US$18 billion and $20 billion.The head of agreement (HoA) was signed by Upstream Oil and Gas Regulatory Task Force chief (SKKMigas) Dwi Soetjipto and Inpex Indonesia president Shunichiro Sugaya on the sidelines of the G20 energy and environment ministers summit in Karuizawa, northwest of Tokyo, on Sunday.Inpex president Takayuki Ueda said the company planned to submit a development plan for the project to the government in several weeks and aim to make a final investment decision within three years.“We have signed a head of agreement with the Indonesian government [...] on behalf of the project partners after gaining endorsement from Sh...