Japanese upstream firm Japex has secured a 50pc stake in the Gebang gas block in Indonesia’s North Sumatra, to strengthen its upstream asset in the southeast Asian country, where gas demand is expected to continue growing.
Japex has agreed to acquire a 50pc share in Indonesian firm EMP’s subsidiary EMP Gebang (EMPG) for an undisclosed sum. EMPG holds 100pc of the working interest in the Gebang block, which is located along the coast of the Malacca Strait.
The area encompasses promising undeveloped gas fields with substantial exploration upside, and the possibility of an additional gas field, Japex said. The company is set to lead the development and early production of the…