Japanese oil and gas exploration company INPEX Corp is striving to have the final investment decision (FID) for the Abadi Masela Field project signed by 2027 as part of its operational target to expand the Liquefied Natural Gas (LNG) supply.
"Natural gas and LNG have low greenhouse gas emission intensity compared to other fossil fuels. Gas plays an important role as a fuel in the energy transition," Takayuki Ueda, President and CEO of Inpex Corp, said as quoted in an katadata.co.id article on February 14, 2025.
INPEX Masela Ltd, a subsidiary of INPEX Corp, holds the operatorship of the Abadi Masela project with a shareholding. The company plans to start the initial project design (FEED) phase this year to achieve the gas production target in early 2030.
The Abadi Masela project is a project that has been delayed for years due to changes in planning and the exit of Shell as the managing consortium. Then, Shell's position was replaced by PT Pertamina Hulu Energi Masela and Petronas Masela Sdn Bhd in 2023.
Djoko Siswanto, Head of the Upstream Oil and Gas Regulatory Task Force (SKK Migas) has issued a first Warning Letter to INPEX Masela Ltd requesting INPEX to immediately start gas production. SKK Migas is waiting for certainty from gas buyers so that the project can start immediately.
"Yes, it is hoped that there will be buyers for the gas soon so that the project can start this year," Djoko spoke to reporters in Jakarta on February 11, 2025.
Previously, Minister of Energy and Mineral Resources (ESDM) Bahlil Lahadalia asked INPEX to immediately start work towards production this year. He also threatened to revoke the Masela Block concession unless there is progress.
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