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|Date: 13 December 2010 - Author: Kompas|
|Indonesia has approved Inpex Corp.'s plan to build a floating facility to process natural gas it will produce from the offshore Masela block, a government official said Monday.|
|The Japanese company, which owns a 90% stake in the block, and PT Energi Mega Persada (ENRG.JK), which holds the remaining 10% stake, will build a facility with annual capacity of 2.5 million tons, Evita Legowo, director general of oil and gas at the Ministry of Energy and Mineral Resources, told Dow Jones Newswires. The remaining 2 million tons of capacity will be added later, Legowo said. |
“Initially they planned to build a facility with 4.5 million tons/year at once, but there are no insurance companies who are willing to cover“a project of that size, she said.
Inpex has said it may seek a partner for the Masela block, which is expected to start producing in 2016. Both Royal Dutch Shell PLC (RDSB) and PT Pertamina, the Indonesian state oil and Gas Company, have expressed interest.