It has been six months since President Joko Widodo changed the development of the Masela Block, from the original offshore LNG plant scheme to an onshore refinery. However, the Masela Block development plan still revolves around the revision of the plan of development (POD).
In the latest news, the Ministry of Energy and Mineral Resources (ESDM) sent a reply letter to Inpex Corporation.
"Later Mr. Jaffee Suardin, the Special Staff of the Deputy Minister of Energy and Mineral Resources, will explain," Deputy Minister of Energy and Mineral Resources, Archandra Tahar, was reluctant to reveal the contents of the government's reply letter.
According to information, the government's reply letter dated October 13, 2016, was signed by the Coordinating Minister for Maritime Affairs as well as the then Acting Minister of Energy and Mineral Resources, Luhut Binsar Pandjaitan.
Luhut Binsar Pandjaitan
The government has not agreed on a single point put forward by Inpex Corporation. The government said that it still needs time to review and discuss the five points of Inpex's request.
The five points of Inpex's request are an increase in the LNG refinery capacity from 7.5 MTPA to 9.5 MTPA, a 10-year contract moratorium, an internal rate of return (IRR) of 15%. Two other points, the matter of cost recovery during the exploration period and government licensing. The government is still targeting the Inpex Corporation POD submission to take place this year. We are trying to be as fast as possible.
Kontan, Page-14, Monday, Oct 24, 2016
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