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INPEX Wins Offshore Exploration Rights In Indonesia
(MENAFN- Trend News Agency)
BAKU, Azerbaijan, May 21. INPEX Corporation has
been jointly awarded exploration rights for the Barong Working Area
offshore Eastern Java as part of Indonesia's second Petroleum
Bidding Round for 2025 organized by the Ministry of Energy and
Mineral Resources, Trend reports via the company.
Following the award, INPEX, through its subsidiary INPEX BARONG, signed a Production Sharing Contract (PSC) with Indonesia's upstream regulator SKK Migas and partner BP Barong Limited.
The Barong Working Area is located offshore East Java, a region where multiple oil and gas discoveries have already been made. The province is expected to maintain stable energy demand over the medium to long term, supporting the project's development potential.
INPEX and its partner said they aim to move quickly toward development and production activities if exploration efforts prove successful.
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