Inpex Wins Indonesian Approval to Buy Babar Selaru Block
Stock Chart for Inpex Corp (1605)
Inpex Corp. (1605) won approval from the Indonesian government to acquire the Babar Selaru oil and gas block, according to a statement on the Japanese company’s website today.
Japan Oil, Gas & Metals National Corp. will provide 16.1 billion yen ($210 million) in equity financing over the next six years to cover as much as 75 percent of exploration costs for the project, according to a separate statement from the state- run explorer.
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