INPEX to Develop Massive Indonesian Field

Japan's INPEX Holdings is set to submit plans to develop one of Indonesia's biggest oilfields, according to official energy watchdog BPMIGAS.

The energy watchdog told Reuters INPEX is expected to submit development plans for the Abadi field in the Timor Sea this week.

The company says it expects to start commercial gas production from 2014-2016.

INPEX also announced it has acquired interests in two exploration permits, offshore Western Australia.

The two permit areas, WA-410-P and WA-411-P, are located in the Browse Basin, about 200km off the coast.

The permits are adjacent to INPEX's majority-owned Ichthys project, which is set to start production of liquefied natural gas in the second half of 2013, says the company.

By staff writer