JAKARTA (Yosefardi) – INPEX Corporation, largest oil and gas company from Japan, had this morning met president SBY to demand support for contract extension in exploring Gas Abadi project, Masela block, Arafura offshore.

INPEX’s President & CEO Toshiaki Kitamura told to media that INPEX has expressed its commitment to SBY for long term exploration of liquified natural gas (LNG) at Masela Block.

While INPEX’s Vice President Corporate Services Nico Muhyiddin did not disclose the investment cost for Gas Abadi project, but noted INPEX has spent US$21 billion for exploration at 10 areas in Indonesia.

He added currently exploration of Gas Abadi project is still on front end engineering design (FEED) phase, yet enters into production.

Abadi Gas project is targeted to produce 2.5 million tons of LNG per year. The contract runs for 30 years, starting 1998 and to end by 2028.