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INPEX Signs Agreements for Transfer of Operations of the Mahakam Block

Source: www.gulfoilandgas.com 3/14/2017, Location: Asia

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INPEX CORPORATION (INPEX) announced today that it has signed a series of agreements concerning the transfer of operations for the Offshore Mahakam Block (Mahakam Block) with PT Pertamina Hulu Mahakam (PHM) and TOTAL E&P Indonesie (TOTAL). This occasion marks one of the steps to begin discussions concerning participation in the Mahakam Block from January 2018.

INPEX is currently engaged in the development and production of oil and natural gas in the Mahakam Block in partnership with TOTAL, the Operator, and both TOTAL and INPEX are also pursuing discussions with PHM and the Indonesian government authorities with the aim of participating in the Mahakam Block after the current production sharing contract (PSC) expires at the end of 2017.

The series of agreements concerning the transfer of operations outline key points with regards to the smooth transfer of operatorship from TOTAL to PHM and includes measures to facilitate PHM’s steady operations as Operator in the Mahakam Block from January 2018.

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