Inpex Resumes FEED and FID Auctions to Speed up Abadi LNG Project

By Editorial Team 14/08/2023
Summary

Inpex Masela Ltd continues its efforts to finalize the front-end engineering design (FEED) and the final investment decision (FID) auctions for the Abadi LNG project. This follows the successful completion of the divestment of Shell Upstream Overseas Services (I) Limited's 35 percent participating interest in the Masela Block.

Currently, Inpex is engaged in intensive coordination with new partners, PT Pertamina and Petroliam Nasional Berhad (Petronas), who will be taking over Shell's role in the Masela Block. The objective of this collaboration is to expedite progress on the Abadi LNG project, which has long been dormant.

"Our aim is to achieve an internal rate of return of approximately ten percent from the Abadi Field, a figure surpassing the weighted cost of capital,” Inpex President & CEO Takayuki Ueda said while addressing the agenda during the online presentation of the financial performance for the first semester.

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