Shell Exits Indonesian Gas Project

Wednesday, October 18, 2023

Oil major Shell has sold its 35% stake in Indonesia’s Masela offshore block to PT Pertamina Hulu Energi and Petronas. 

The sale includes the Abadi gas project. The 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," Shell said.

Japan's Inpex holds a 65% operating interest in the Masela offshore block and is the operator of the Abadi gas project located in the block. The Abadi gas project is located in the Masela block, 150 kilometers offshore of Saumlaki in Maluku province, Indonesia.

Shell had acquired its interest in the Masela offshore block in 2011.


Categories: Energy LNG Industry News Activity Asia Gas

Related Stories

CNOOC Brings New Offshore Gas Field On Stream

CNOOC Brings New Offshore Gas Field On Stream

PTTEP Buys Chevron's Hess Unit Share of Southeast Asia’s Offshore Block for $450M

PTTEP Buys Chevron's Hess Unit Share of Southeast Asia’s Offshore Block for $450M

OPT Finds Tech Delivery Partner for Mexican Maritime Markets

OPT Finds Tech Delivery Partner for Mexican Maritime Markets

Current News

Tsunami Waves Reach Hawaii Following Major Earthquake in Russia’s Far East

FLNG Capacity to Jump

Kongsberg Maritime, Noble Corp to Jointly Advance Offshore Drilling Tech

Ocean Winds Picks Siemens Gamesa Offshore Wind Turbines for Polish Project

Subscribe for OE Digital E‑News

Offshore Engineer Magazine