INPEX revises development plan for Abadi LNG project offshore Indonesia

9/3/2015

TOKYO -- INPEX Corp. has submitted a revised plan of development (POD) for Abadi gas field in the Masela Block, Arafura Sea, Indonesia, as a result of a greater volume of natural gas reserves being confirmed, among other factors.

With the cooperation of strategic partner Shell, INPEX is preparing for the development of Abadi gas field, as operator, through its subsidiary INPEX Masela, Ltd. The Revised POD envisions the adoption of a Floating LNG (FLNG) plant with an annual LNG processing capacity of 7.5 million tons.

The initial plan of development (POD-1) was based on developing Abadi gas field in stages and targeted the deployment of an FLNG plant with an annual LNG processing capacity of 2.5 million tons as the first stage of development. POD-1 was approved by the Indonesian government in 2010.

Between November 2012 and November 2014, INPEX conducted Front End Engineering and Design (FEED) works for both SURF (Subsea, Umbilical, Riser and Flowline) and the FLNG plant based on POD-1. Based on evaluations of three appraisal wells drilled between June 2013 and April 2014, INPEX confirmed the presence of a greater volume of Abadi gas reserves, which was certified by Indonesian authorities.

In parallel with subsurface evaluations after the drilling campaign, INPEX also conducted studies to assess the optimal development scenario taking into account the updated Abadi gas reserves. These studies included a large scale FLNG technology study (pre-FEED) where INPEX confirmed the technical developments and improvements in larger scale FLNG made in recent years.

Taking these findings into account, INPEX conducted a comprehensive review of POD-1 including technical and economic evaluations. As a result, the company concluded that development by a 7.5 million ton-class FLNG is the optimal solution to replace the initially planned development in stages, and has submitted the revised POD to Indonesian government authorities accordingly.

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