Wednesday, October 18, 2006

Oil and Gas: Japanese company to develop Indonesian gas field

Japan's Inpex Holdings Inc. is to ramp up exploration at a major Indonesian gas field with an eye on producing around three million tons of liquefied natural gas a year by 2016.

The company said it would start drilling at four new locations at the Masela block in the Timor Sea by early next year to further evaluate the reserves, with the aim of submitting a production plan to the Indonesian government in 2008.