TEMPO.CO, Jakarta - Inpex will no longer operate South Natuna Sea Block B after Medco acquired the stake of its subsidiary Inpex Natuna Limited who owned 35 percent participating interest in the working area.
Inpex Senior Manager Communication and Relations Usman Slamet said that Inpex Natuna Limited’s share disposal to PT Medco Daya Sentosa, a subsidiary of PT Medco Energi Internasional Tbk, was made based on several considerations. Inpex had earlier decided to end operatorship at Attaka block, East Kalimantan, which contract will expire this year.
In its official website, Inpex said that it has participating interest in the Mahakam block that will also end this year. Moreover, Inpex also has 15 percent participating interest in Sebuku block. At present, Inpex is the operator of the Masela block, which is still being developed, owning 65 percent participating interest.
Inpex said in an official statement that the average production of the South Natuna Block B in 2016 was 20,000 barrels of oil per day (bph), 197 million standard cubic feet per day (MMscfd) of gas and 6,000 bph liquefied petroleum gas (LPG).
The block which cooperation contract was signed in 1968 started producing oil in 1979 and gas in 2001. Following the transaction, Medco, the current operator, owns 75 percent shares in South Natuna Sea Block B, whereas Chevron owns 25 percent shares.
Usman said that Inpex and Total E&P Indonesie continue to communicate over the Mahakam and Masela blocks with Shell.
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