Govt orders INPEX to revise Masela PoD

Director General of Oil and Gas Evita Legowo said on Tuesday that the government has returned plan of development (PoD) of Masela gas block in Timor Sea to operator INPEX Corp for revision.

?There are numbers of items that must be revised by INPEX including investment figures,? Evita said without giving further detail.

Inpex has submitted PoD to develop an LNG plant in Masela to upstream oil, gas authority BPMIGAS in May 2008. BPMIGAS then pass the PoD in November to the government as approval for first PoD must come from the Ministry of Energy and Mineral Resources.

According to BPMIGAS Chairman R. Priyono in September 2008, INPEX would build a floating 4.5MTPA LNG plant with total investment of US$14 billion.

INPEX holds 100 percent interest in Masela. (bernard)