Inpex submits plan on LNG project in Indonesia

In Corporate
June 22, 2019
I

The Japanese oil and gas giant Inpex has submitted a revised plan for the development of the Abadi oil field to authorities in Indonesia. The proposal concerns a major project in the field of liquefied natural gas (LNG).
 
Part of the plan is an extension of the agreements on the Masela field by 27 years to 2055, which Inpex manages together with Shell. The Anglo-Dutch oil company has a share of 35 percent and its counterpart 65 percent. Abadi is part of the larger Masela field.

Inpex expects the revised plan to get an agreement quickly from the government in Indonesia. When that is the case, the oil company is working with Shell on a definitive investment agreement. This can take several years. According to the plan, the final production capacity of the total LNG project is equal to 9.5 million tons of LNG annually.

By: Oliver I. Kjeldsen

Oliver I. Kjeldsen has a corporate finance and extensive expertise in company audit. He grants us amazing insights on taxation, international affairs and friendly advice on nearly any topic of interest. His email is oliver.kjeldsen@economicinform.com

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