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Jakarta Post

Masela project goes ahead

  • The Jakarta Post

  /   Tue, June 18 2019   /  01:15 am

The signing on Sunday of the heads of agreement (HoA) between Japan’s Inpex oil company and Indonesia’s Upstream Oil and Gas Regulatory Special Task Force (SKKMigas) for the development of the US$20 billion Masela natural gas liquefaction plant project in the eastern region of Maluku will go a long way in improving the market perception of the future of the country’s hydrocarbon industry.The project, which is supported by the country’s biggest gas field with proven resources and capabilities of producing 9.5 million tons of liquefied natural gas (LNG) a year, had been delayed since early 2016 after President Joko “Jokowi” Widodo decided to move the project onshore from offshore as designed by Inpex-Shell in the original plan of development (PoD).But preparations for the project may take another five years before construction work starts because gas resource development has be...