Inpex acquires stake in Rajabasa geothermal project, Indonesia

Bandar Lampung City, Indonesia (source: eVANDOphotography / flickr, Creative Commons)

Japanese oil and gas company INPEX CORPORATION (INPEX) has joined the Rajabasa geothermal project in the Lampung province in Sumatra, Indonesia through the acquisition of 31.45% stake in PT Supreme Energy Rajabasa. The acquisition was done through INPEX GEOTHERMAL LTD. (INPEX GEOTHERMAL), a subsidiary established for the purpose of conducting geothermal business.

INPEX joins PT Supreme Energy, ENGIE SA, and Sumitomo Corporation as stakeholders in PT Supreme Energy Rajabasa. The stake acquired by INPEX comes from the French energy group ENGIE.

The Rajabasa geothermal project is currently still in the exploration stage. However, surface and geophysical surveys have already indicated the presence of potential geothermal resources in the area. INPEX is expected to contribute its drilling technology to drill test wells within the current year.

This acquisition follows similar news of INPEX joining the Rantau Dedap and Muaralaboh geothermal projects, both in Indonesia. In early 2022, INPEX announced plans of expanding their geothermal portfolio in both Japan and Indonesia.

Source: Nikkei Asia and INPEX