SKK Migas, Inpex to Develop Gas-Rich Masela Block
Indonesias Upstream Oil and Gas Regulatory Task Force (SKK Migas) has reached an agreement with Japanese oil and gas giant Inpex Corporation to develop gas-rich Masela block in the Arafura Sea in Maluku province.
President (Joko Jokowi Widodo) considers that the investments are valuable to Indonesia, Minister of Energy and Mineral Resources Ignasius Jonan said at Merdeka Palace, Jakarta, Tuesday (16/7).
According to Jonan, the revised plan of development (PoD) for the management of Masela block has also been completed. The Government has also granted approval to the development of the block, he said.
On the occasion, President Jokowi expressed hopes that Inpex will remain committed to the PoD and maximize the local content and empower local workforce in running the gas block.
For the record, the revised PoD is a follow-up to the signing of the head of agreement (HoA) between SKK Migas and Inpex on 16 June 2019 in Tokyo, Japan. The next phase of the Masela block development is the final investment decision (FID).
In the meantime, CEO of Inpex Corporation Takayuki Ueda welcomed the completion of the revised PoD and vowed that his company woul implement the commitment that has been agreed upon.
If the project (of the development of the gas block) lasts until 2055, it will bring multiplier effects to Indonesias economy and contribute to Indonesia’s GDP worth US$153 billion as well as create more jobs, Ueda said, adding that the project will create around 73,000 jobs. (BPMI Setpres/ES)
Translated by: Galuh Wicaksono
Edited by: Muhardi/Muhammad Ersan Pamungkas