World`s largest floating refinery being built in Timor Sea

Batam, Riau Islands (ANTARA News) - The Masela ..." /> World`s largest floating refinery being built in Timor Sea

Batam, Riau Islands (ANTARA News) - The Masela ...">
World`s largest floating refinery being built in Timor Sea

Batam, Riau Islands (ANTARA News) - The Masela Gas and oil Refinery being built in the Timor Sea will be the largest of its kind in the world, an energy official said.

"The Upstream Oil and Gas Regulatory Body (BP Migas) is building the largest floating oil and gas refinery in the world. It is located in the Masela Block in the Timor Sea," said BP Migas Chief R Priyono here Friday.

The Masela refinery was being constructed with huge investment figures. Its platform would cost 600-800 million US dollars and the refinery itself 8-9 billion US dollars, he said.

The refinery would be operated by Inpex Masela Ltd with liquefied natural gas (LNG) production to begin by 2016 at a rate of 4.5 million tons per year.

Priyono said the Masela block held gas reserves of 8.5 trillion cubic feet which were estimated to last up to 47 years.

The offshore refinery was being constructed using the integrated upstream pattern, starting from the gas well drilling to the floating LNG refinery.

Inpex is a Japanese company holding a 100-percent participating interest in the project.

The contract on development of the Masela Block was signed by the government and Inpex on November 16, 1998. (*)
<span style="font-size: 14pt"><span style="font-weight: bold">World`s largest floating refinery being built in Timor Sea</span></span><br /> <br /> Batam, Riau Islands (ANTARA News) - The Masela Gas and oil Refinery being built in the Timor Sea will be the largest of its kind in the world, an energy official said.<br /> <br /> &quot;The Upstream Oil and Gas Regulatory Body (BP Migas) is building the largest floating oil and gas refinery in the world. It is located in the Masela Block in the Timor Sea,&quot; said BP Migas Chief R Priyono here Friday.<br /> <br /> The Masela refinery was being constructed with huge investment figures. Its platform would cost 600-800 million US dollars and the refinery itself 8-9 billion US dollars, he said.<br /> <br /> The refinery would be operated by Inpex Masela Ltd with liquefied natural gas (LNG) production to begin by 2016 at a rate of 4.5 million tons per year.<br /> <br /> Priyono said the Masela block held gas reserves of 8.5 trillion cubic feet which were estimated to last up to 47 years.<br /> <br /> The offshore refinery was being constructed using the integrated upstream pattern, starting from the gas well drilling to the floating LNG refinery.<br /> <br /> Inpex is a Japanese company holding a 100-percent participating interest in the project.<br /> <br /> The contract on development of the Masela Block was signed by the government and Inpex on November 16, 1998. (*)
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