Swift Measures to Secure Masela Block Development

The national authority overseeing upstream oil and gas is taking swift actions to facilitate the development of the Masela Block.

Lili Sunardi

6 Des 2023 - 22.38
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Swift Measures to Secure Masela Block Development

Offshore platform natural oil gas production.-Illustration. Photo/JIBI/Bisnis.com

Bisnis, JAKARTA—The national authority overseeing upstream oil and gas is taking swift actions to facilitate the development of the Masela Block. The Ministry of Energy and Mineral Resources (EMR) has recently approved the plan for developing this oil and gas block, known for its substantial reserves.

Several incentives and assurances for gas buyers within the oil and gas working areas in the Arafura Sea have been devised, aiming to swiftly deliver optimal benefits for the country. The goal is to expedite the long-delayed project, ensuring the prompt production of natural gas to bolster national energy security and accelerate the energy transition.

The government holds high expectations for the Masela Block, considering it as one of the oil and gas working areas boasting significant reserves, amounting to 18.54 trillion cubic feet (TCF). Additionally, there is an anticipation of a direct positive impact on increasing the added value of onshore gas processing on Yamdena Island in the Tanimbar Islands.

Ministry of EMR has affirmed that the government is willing to accommodate the wishes of Inpex Masela Ltd. The proposed amendment to the Masela Block production sharing contract (PSC) involves incorporating the cost of constructing carbon capture and storage (CCS), amounting to $1.08 billion.

Cek Berita dan Artikel yang lain di Google News dan WA Channel
Editor: Aprilian Hermawan
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Swift Measures to Secure Masela Block Development

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