JAKARTA--Indonesia's energy ministry said on Monday the upstream oil and gas regulator SKK Migas agreed with Japanese oil and gas company Inpex Corp. on a framework for revised plan of development for the Masela gas block.
The government expects to have at least 50% share in production from the block, which will be developed with an estimated investment of $20 billion, the ministry said in a statement.
The agreement on the framework was reached on May 16, during a visit by Indonesian officials to Tokyo, it added.
The impetus for iPIPES, an industry-wide partnership focused on developing new technologies to prevent and detect pipeline leaks, was the dramatic growth created by the “Bakken boom,” program manager Jay Almlie says.
Improved export-focused infrastructure can boost fortunes of the Eagle Ford and Haynesville.
Times have been hard for the midstream, but exports promise a brighter future.