Earlier this month the Indonesian Ministry of Energy and Mineral Resources said that Indonesia will require an additional 3,100 million standard cubic feet per day (mmscfd) of gas supplies in the next five years to meet domestic gas demand for the country’s power stations and fertilizer plants. About 1,100 mmscfd of gas is needed for Indonesia’s plan to establish 13,400 MW of gas-fired power stations by 2020. A further 2,000 mmscfd is needed to fuel fertilizer plants in Southeast Asia’s largest economy.
14 December 2019 (closed)
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Today's Headlines Inpex Corporation
The government of Indonesia will soon decide on the future of the Mahakam oil and gas block in East Kalimantan. The existing contracts to operate the block will expire in 2017 and therefore the government needs to make a decision about the future operator(s). The current operators of the Mahakam block are Total E&P Indonesia (subsidiary of France-based oil and gas giant Total S.A.) and Japanese oil company Inpex Corporation. Both companies have a 50 percent stake in the Mahakam block.
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Indonesian President Joko Widodo decided that the Masela liquefied natural gas (LNG) plant will be constructed onshore. Masela, located in the Arafura Sea (Moluccas), is Indonesia's largest deep-water gas project. Previously, Japan-based oil company Inpex Corp and Netherlands-based Royal Dutch Shell proposed to construct the LNG plant offshore (which would have made it the world's largest floating LNG plant). On Wednesday (23/03) President Widodo rejected the proposal after months of polemic. Contractors Inpex and Shell are not expected to withdraw from the project but will need time to adjust plans.
Indonesia’s state-owned energy company Pertamina and local governments will become the new operators of the Mahakam oil and gas block (located offshore in East Kalimantan) after existing contracts of current operators end on 31 December 2017. The Indonesian government announced on Friday (19/06) that it is to grant Pertamina a 70 percent stake in the Mahakam block, Indonesia’s largest oil and gas block. The current operators of the block are French oil giant Total SA and Japan-based oil firm Inpex Corp, each owning a 50 percent stake.
Inpex Corporation, a leading Japanese oil & gas exploration and production firm, announced today that it agreed to take part in the 330-megawatt Sarulla Geothermal Power Project in North Sumatra (Indonesia), the world’s largest single-contract geothermal power project. Inpex Corp acquired a 49 percent stake in a local unit of Medco Power Indonesia. As such, Inpex Corp’s participation in the project is indirect. Parent company Medco Power Indonesia owns a 37.5 percent stake in the Sarulla project.
Sudirman Said, Indonesian Minister for Energy and Mineral Resources, announced that state- owned energy company Pertamina will become the new operator of the offshore Mahakam oil & gas block in East Kalimantan starting from 1 January 2018, replacing current operators Total E&P Indonesia (the local unit of France-based Total S.A.) and Japan-based Inpex Corporation as existing contracts expire in 2017. The Ministry, Pertamina, Inpex and Total met on Friday (27/03) to discuss the transition process.
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