INPEX REVISES PROPOSED INDONESIAN ABADI PROJECT CONDENSATE CAPACITY 3 TIMES HIGHER

Tokyo (Platts)–4 Sep 2015 618 am EDT/1018 GMT

 

Japan’s Inpex, under a revised development plan for its proposed Abadi floating LNG project in Indonesia, has raised condensate production capacity by nearly three times to 24,000 b/d, a company official said Friday.

The company revised its development plan for the proposed FLNG project in Indonesia’s offshore Masela block, after confirming higher natural gas reserves, the official said.

Inpex said it has submitted its revised development plan to Indonesian upstream regulator SKK Migas. Inpex will re-run front-end engineering and design for the Abadi project, after receiving approval, the official said.

Under the revised plan, Inpex has also proposed tripling the capacity of its floating Abadi LNG plant to 7.5 million mt/year.

The Indonesian government in 2010 had approved the development plan of the Masela block under a FLNG concept of 2.5 million mt/year capacity, along with 8,400 b/d of condensate production capacity.

The project had been originally expected to come on stream in 2018.

Separately, Inpex is still in negotiations with the Indonesian government for a 20-year extension to the production sharing contract for the Masela block which expires in 2028, as it says the current term does not give sufficient time to make a return on its investment.

Operator Inpex owns 65%, with Shell holding the remainder.

–Takeo Kumagai, takeo.kumagai@platts.com
–Edited by Geetha Narayanasamy, geetha.narayanasamy@platts.com

http://www.platts.com/latest-news/natural-gas/tokyo/inpex-revises-proposed-indonesian-abadi-project-27776651

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About artidj

I started working as a field engineer in Oil & Gas industry back in 1996. I do this news clipping of the industry and the geography I am interested in, mainly for my own information. I'm glad you find it useful.
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