INPEX to sell natural gas to PLN
Tuesday, December 14 2004 - 12:47 AM WIB
Japanese oil and gas project developer INPEX Corp. said on Monday it had signed its first contract to sell natural gas produced from a block off southeast Sumatra, Indonesia, to Indonesian state electricity firm PT Perusahaan Listrik Negara (PLN), the Reuters reported from Tokyo.
INPEX will sell 80 billion British thermal units a day to PLN from 2006 until 2018, INPEX said in a statement.
The block, located 100 km (63 miles) northwest of Jakarta, is currently producing about 71,000 barrels per day of crude oil from the Cinta and Widuri oil fields, INPEX said.
The natural gas will be piped to PLN's thermal power plant in western Java, INPEX said.
INPEX holds an interest of just over 13 percent in the southeast Sumatra block. CNOOC Ltd. , the operator, holds 65.54 percent and the rest is owned by South Korea's Korean National Oil Corp. (KNOC), Japan's Mitsubishi Corp. and Britain's Paladin Resources Plc.(*)