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View all search resultsIndonesia's SKK Migas is pushing Japan's INPEX to accelerate development of the Masela Abadi LNG project so it goes onstream as scheduled in late 2029, if not earlier, following decades of delays since the initial contract was inked in 2011.
The government said it intends to carry out oil and gas exploration in the Warim block in Papua as planned, despite some of the land falling within the Lorentz National Park, a protected UNESCO World Heritage site.
State-owned oil and gas giant Pertamina and Malaysia’s Petronas have officially acquired Shell’s 35 percent participating interest in the Masela oil and gas block in Maluku, which also includes the Abadi gas project, for US$650 million.
State-owned oil and gas giant Pertamina is looking to sign an agreement to take over Shell’s 35 percent participating interest in the Masela block this month, the Upstream Oil and Gas Special Regulatory Task Force (SKK Migas) said on Monday.
The government is considering having Pertamina buy Shell’s 35 percent stake in the Abadi liquefied natural gas (LNG) project in the Masela Block, but experts say financial constraints in dealing with multiple giant projects may make that a difficult prospect for the state-owned company.
Indonesia is aiming to double gas production over the next 10 years to 12,300 million cubic feet per day (mmscfd) as it sets sights on becoming one of the top global gas exporters with major projects in the pipeline.
Even taking into account rich gas blocks such as the Masela Block, Jambarang Tiung Biru field (Cepu Block), Tangguh field (Berau Block) and Sakakemang Block, Indonesia will face an LNG deficit of 1,000 to 2,000 million metric standard cubic feet per day (mmscfd) by 2035, according to state energy giant Pertamina estimates.
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