The Ministry of Energy and Mineral Resources has accorded approval to Zaratex N.V. to develop a new offshore gas field at the Lhokseumawe block in Aceh province. The project aims to support the government programme to supply gas for the city, the transportation sector and the industrial sector. The company is expected to invest up to $88.1 million for developing the area and another $45.9 million to operate and close the area for the gas field project. Zaratex, a subsidiary of Dutch-owned but Malaysia-based oil company Pexco Sarawak Energy N.V., has been operating the Lhokseumawe block since 2005.
