Acquisition of 31.45 Percent of Supreme Energy Shares, Inpex Begins to Join the Rajabasa Geothermal Project

Illustration. (Photo: Doc. Antara)

JAKARTA - A Japanese company, Inpex Corporation (Inpex) announced that it has joined the Rajabasa geothermal project through Inpex Geothermal, a subsidiary established to run a geothermal business.

The project is located in the Rajabasa Geothermal Block in Lampung Province, South Sumatra. Inpex joined this geothermal project by acquiring a 31.45 percent stake in PT Supreme Energy Rajabasa held by ENGIE through Inpex Geothermal.

"Inpex today announced that it has joined the Panas Bumi Rajabasa in Indonesia through Inpex Geothermal Ltd", wrote Inpex in a statement, Friday 6 January.

Just so you know, ENGIE, Sumitomo Corporation, and PT Supreme Energy, Indonesian private geothermal power plant business developers, have so far carried out exploration activities through investment in PT Supreme Energy Rajabasa.

For now, the project is in the stage of exploration, surface survey, and geophysics and shows the potential of certain geothermal resources.

"If sufficient geothermal resources are found through exploration activities to warrant the development of the Project, this is expected to contribute to the further expansion of INPEX's geothermal business in Indonesia", continued Inpex.

Previously it was also reported that Inpex through its subsidiary was also involved in the Rantau Dedap geothermal project, South Sumatra by acquiring 27.4 percent of ENGIE's shares.