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.
The company noted that exploration activities in the Barong
block are expected to support the expansion of its natural gas and
LNG business under its INPEX Vision 2035 strategy announced earlier
this year. The project is also expected to strengthen INPEX’s
presence in Southeast Asia, which the company considers one of its
core business regions.
INPEX added that it remains committed to expanding its
operations in Indonesia and pursuing further business opportunities
in the country.
Japan’s largest exploration and production company, INPEX is
involved in oil and gas projects globally and is also investing in
lower-carbon solutions, including carbon capture and storage (CCS),
hydrogen, and integrated power supply initiatives.
