TEMPO.CO, Jakarta - Inpex Corporation will propose to extend its operating license by 20-year within the plan of development (PoD) documents of the Masela Block. Based on the company's contract on November 16, 1998, Masela's development would end in 2028.
The company's senior specialist for media relations Moch. N. Kurniawan said the documents for the permit extension would be submitted along with the amended contracts and final proposal revision for Masela Block's PoD.
The permit extension was submitted following the signing of a head of agreement (HoA) for the Masela's development by SKK Migas chief Dwi Soetjipto and Inpex Indonesia CEO Shunichiro Sugaya on June 16 in Japan's Nagano prefecture.
The Energy and Mineral Resources Ministry issued a written statement on May 27, stating that Inpex and SKK Migas had agreed on the investment value for Abadi Field's project development. The values is US$20 billion.
Dwi Soetjipto hopes the PoD proposal from Inpex can be immediately legalized by the Energy Minister. "We are expecting it is approved by the end of June 2019," he said.