The Abadi Gas Field in Masela Block, Arafura Sea, Indonesia, Has Obtained the Plan of Development Approval

 

 

Jakarta, 22 December 2010. INPEX CORPORATION (INPEX) and PT Energi Mega Persada Tbk (EMP) are pleased to announce today that BPMIGAS has given their Plan of Development approval to the EMP and INPEX for the Abadi gas field in Masela Block, Arafura Sea, Indonesia. Following BPMIGAS’ approval, INPEX and EMP will make a mutual cooperation to contribute to smooth implementation of the development of the Abadi Gas Field.

 

 

EMP CEO Imam Agustino said, “This approval will allow EMP and INPEX to work together to monetize the project in a way beneficial to all parties concerned. The POD envisions the adoption of the Floating LNG (liquefied natural gas) for an optimal method for the commercial development. During the first phase of the development, one FLNG plant will be constructed and utilized for the safe and stable LNG production operations.”

 

The Floating LNG (FLNG) has been studied and proposed by INPEX Masela and supported by BPMIGAS. INPEX Masela and EMPI will proceed to the FEED (Front End Engineering and Design) in a timely manner. The project is undertaken by INPEX Masela, Ltd., a subsidiary of INPEX, and PT EMP Energi Indonesia (EMPI), a subsidiary of EMP.

 

 

Last month, EMP just completed the 10% acquisition of the Masela PSC which has increased EMP’s net 2P reserves by 135% to 532 million barrels equivalent.

 

 

About the Abadi Project:
A gas field and LNG development project for the Abadi gas field located in the Masela Block in the Arafura Sea in the eastern part of Indonesia. The entire area of the Block is 3,221 km2 and the water depth is 300 to 1,000 m.

 

 

INPEX Masela has explored the Block as the operator and the field was discovered at the exploratory well Abadi-1 drilled in 2000. Subsequently, appraisal works were conducted, including the drilling of the six appraisal wells, and confirmed the sufficient volumes of gas reserves for an LNG development project.

 

 

Project participants
INPEX Masela : 90%, Operator
EMPI : 10%

 

 

About EMP :
EMP is a leading Indonesian upstream oil and gas exploration and production company and part of the Bakrie group, which is one of Indonesian's most prominent corporate groups with a wide range of business areas including energy, infrastructure and resources.

 

 

About INPEX :
EMP is a leading Indonesian upstream oil and gas exploration and production company and part of the Bakrie group, which is one of Indonesian's most prominent corporate groups with a wide range of business areas including energy, infrastructure and resources.

 

 

INPEX has been expanding its exploration and development activities in Indonesia as one of its international core business areas. INPEX is conducting production activity in the Offshore Mahakam Block with the largest gas production in Indonesia. INPEX will proceed with the Abadi project which will further expand its exploration, development and production activities in Indonesia.

 

 

For any question relating to this release please call Herwin W. Hidayat (Investor Relations) at +6221-2994 1500. Other related Company information can be found at www.energi-mp.com. www.energi-mp.com.

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