Shell completes sale of interest in Indonesia’s Masela block
Published by Emily Thomas,
Deputy Editor
Oilfield Technology,
Shell Upstream Overseas Services (I) Limited (SUOS), a subsidiary of Shell plc, has completed the previously announced sale of its 35% participating interest in Indonesia’s Masela Production Sharing Contract to Indonesia’s PT Pertamina Hulu Energi and PETRONAS Masela Sdn. Bhd.
The sale includes the Abadi gas project. Completion of the sale follows regulatory approval from Indonesia’s Ministry of Energy and Mineral Resources for the transfer of SUOS’ stake to PT Pertamina Hulu Energi Masela and Petronas Masela.
This divestment is in line with Shell’s focus on disciplined capital allocation. Shell remains active in Indonesia’s downstream and low-carbon fuel sectors.
Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/18102023/shell-completes-sale-of-interest-in-indonesias-masela-block/
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