Tag: Mubadala Petroleum

Robust Investment Outlook (9)

After two years failing to get investors for new oil and gas blocks auctioned off, the government has on Wednesday (Jan 31) announced winners of five blocks offered late last year. They all agreed to use the new gross split scheme, which was questioned by other investors. They signed US$23.57 million of investment commitment and US$3.25 million of signature bonus for the State.

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China-Japan Competition in Indonesian Oil & Gas (2)

Competition between Japan and China in Indonesia’s oil and gas assets will continue to intensify. Japan, by far, has bigger share in two major LNG projects: Tangguh LNG and Abadi LNG (Masela Block). Japan, through Inpex, was owner of 50% interest in Offshore Mahakam Block, key gas supplier for Indonesia’s largest LNG producer Badak LNG.

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New Era at Offshore Mahakam Block

By January 1st, 2018, state-owned oil and gas company Pertamina will become new operator of the Offshore Mahakam, the largest gas producing block in the country. During 43 years of production controlled by Total (France) and Inpex (Japan), the block produced 1.5 billion barrels of oil and condensate plus 19 trillion cubic feet of natural gas.

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