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Inpex and the Indonesian government have signed a basic agreement on the development of the multibillion-dollar Abadi LNG project. The deal will involve the development of the Abadi gas field in Masela block of the Arafura Sea, as well as an extension of Inpex's contract to operate the Masela field. The company will submit a development plan to the Indonesian government within the next few weeks. Once approved, it will start the front-end engineering and design work before making a final investment decision (FID) within the next two to three years. Wood Mackenzie research director Andrew Harwood said Inpex has ramped up output from Ichthys, which will give it strong cash flows to carry out a second LNG project. Ichytys began shipping LNG last October.
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