Indonesian Govt Gives Inpex Green Light for Abadi Gas Field Development

Inpex reported that the Plan of Development (POD) for the Abadi gas field in the Masela Block, the Arafura Sea, Indonesia, was approved by the Indonesian Government. The project has been undertaken by Inpex Masela, Ltd., a subsidiary of Inpex, as the operator, and its project
partner PT EMP Energi Indonesia (EMPI), a subsidiary of PT Energi Mega Persada Tbk. The approved POD envisions the adoption of the Floating LNG (liquefied natural gas) for an optimal method for the commercial development.

Inpex submitted a POD in September 2008 to BPMigas, the Indonesian authority for oil and gas upstream business, and was later given an government approval in principle. Inpex then discussed with the Indonesian Government the most optimal development plan based on the results of the third-party evaluation conducted by the Indonesian Government. It has now been concluded that the Abadi gas field will be developed in phases and that one FLNG plant will be constructed and utilized for the annual LNG production of 2.5 million ton for the first phase development.

Inpex Masela and EMPI will proceed to the FEED (Front End Engineering and Design) in a timely manner in order for an early start up of the commercial LNG production. Inpex continues to seek support from the Indonesian Government and other stakeholders for an early and optimal commercial gas production from the Abadi project.

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