Japan pledges funds for Masela gas development

The Japanese government has pledged to finance the development of gas discovered in the Abadi field of Masela block in Timor Sea to ensure more LNG supplies to the country.

Hidehiko Nishiyama, Director General of Electricity and Gas Department at Japan?s Agency for Natural Resources and Energy, said during the 8th Japan-Indonesia Energy Round Table in Jakarta on Thursday that the funds would be provided by Japan Oil, Gas and Metals National Corporation (JOGMEC) to Inpex Corporation as the contractor of the block.

?The Japanese government has extended maximum assistance through financing by JOGMEC and other means to this project, which is believed to contribute substantially to sustenance and expansion of natural gas reserves in Indonesia and to the reliability of LNG supplies to Japan,? Nishiyama said.

Inpex has found gas deposit in Abadi field, which is estimated at between 4-7 TCF. (Godang)