| Contract area (block) | Project status | Production capacity | Venture company (established) | Interest owned (*Operator) | Contract type |
|---|---|---|---|---|---|
| Berau | In production | About 11.4 million tons per year | MI Berau B.V. (Aug. 14, 2001) |
|
Production Sharing Agreement (until Dec. 31, 2055) |
| Tangguh Unit | In production | MI Berau B.V. (Aug. 14, 2001) |
|
Production Sharing Agreement (until Dec. 31, 2055) |
Project History
| October 2001 | INPEX joins Berau Block as a shareholder of MI Berau B.V. |
|---|---|
| March 2005 | Project partners reach final investment decision on Tangguh LNG Project following extension of production sharing agreement (until 2035) and government approval of development plan (Construction begins on first and second gas liquefaction trains with combined production capacity of 7.6 million tons per year) |
| July 2009 | Commences LNG sales |
| July 2016 | Project partners reach a final investment decision for Phase 1 of the Tangguh LNG Project expansion development plan (Construction begins on the third gas liquefaction train with a production capacity of 3.8 million tons per year) |
| August 2021 | SKK Migas issues approval of CCUS for the Vorwata Gas Field and the development plan (POD) for the Ubadari Gas Field |
| December 2022 | Indonesian government approves a further extension of the production sharing contract (Extended for 20 years until December 31, 2055) |
| October 2023 | Project commences production from the third gas liquefaction train |
| November 2024 | Project partners reach a final investment decision for Phase 2 of the Tangguh LNG Expansion Development Project -UCC Project (Development of the Ubadari gas field and enhanced gas pressurization capacity through the introduction/installation of CCUS/compressor at the Vorwata gas field) |
INPEX and Mitsubishi Corporation jointly established MI Berau B.V., which acquired the rights to the Berau exploration area in October 2001. Subsequently, through the acquisition of shares in KG Berau Petroleum Development Co., Ltd. via MI Berau Japan Co., Ltd., which we jointly established with Mitsubishi Corporation in October 2007, we increased our effective equity interest in the Tangguh LNG project to approximately 7.79 percent. In March 2005, the Indonesian authorities approved the project's development plan and extension of the production sharing contract (until 2035), and after development work, we have been shipping LNG since July 2009. In addition, we made a final investment decision (FID) on the Tangguh LNG Expansion Project in July 2016.
In December 2022, the project obtained government approval for a further 20-year extension of its production sharing contract until 2055. Currently, the project produces about 11.4 million tons of LNG per year via three gas liquefaction trains. Additionally, in November 2024 the parties reached a final investment decision on the Tangguh UCC Project, an expansion project incorporating CCUS based on a development plan approved by SKK Migas in 2021.
