Japanese oil and gas explorer and producer Inpex Corp. has secured rights to explore the Serpang Working Area offshore Eastern Java in Indonesia. Inpex said in a media release it had won the award in Indonesia’s second Petroleum Bidding Round 2024, hosted by the Ministry of Energy and Mineral Resources.
Following the award, Inpex, through its unit Inpex Serpang Ltd., signed a Production Sharing Contract (PCS) with Indonesian upstream regulator SKK Migas, Petronas Energy Serpang Sdn. Bhd. and EO Serpang Pte. Ltd.
The Serpang Working Area is located about 200 kilometers (124 miles) east of Surabaya, East Java’s capital, where multiple oil and gas fields have been found. This area is projected to sustain energy demand in the medium to long term, Inpex said. Together with its partners, Inpex is hopeful for a prompt shift to development and production if exploration efforts prove successful.
Inpex expects its exploration endeavors in the Serpang Working Area to play a significant role in the growth of its natural gas and liquefied natural gas (LNG) sector, as detailed in Inpex Vision 2035 announced in February 2025, along with the company’s operations in Southeast Asia, which Inpex identifies as a key business region.
In Inpex Vision 2035, the company highlights the importance of a stable energy supply in the current geopolitical landscape, while remaining on the course toward net-zero. The company added that the use of natural gas and LNG as a transition fuel is becoming increasingly significant. Inpex said it will further expand its natural gas and LNG business. It also aims to provide low-carbon solutions through carbon capture and storage and hydrogen, and drive initiatives in the energy and resources fields.
Source: By Paul Anderson from Rigzone.com