Bisnis, JAKARTA — The government’s eagerness for PT Pertamina (Persero) to take over Shell’s 35 percent participating interest (PI) in Masela Block has reached a deadlock.
The oil and gas giant Shell is yet to conclude its negotiations with Pertamina, leaving their plan for the Abadi gas field liquefied natural gas (LNG) development project in the Masela Block, Arafuru Sea, Maluku hanging.
Shell’s plan since 2020 to divest its PI shares would have reached completion by now, considering that Pertamina has undertaken various acquisition processes. Through PT Pertamina Hulu Energi (PHE), Pertamina Upstream Subholding, the company has officially placed its tender offer for the takeover of Shell’s PI.
On the other hand, Inpex Masela Ltd. as the operator in Masela faces a dilemma due to Shell, as their partner, backing out of the national strategic project.
