Jakarta: PT Pertamina (Persero) has reached an agreement with an oil and gas company from the Netherlands, Shell, regarding the acquisition of a 35 percent participating interest (PI) in the Abadi liquefied natural gas (LNG) refinery project in the Masela Block, Maluku.
Deputy Minister of State-Owned Enterprises Pahala Mansury explained that the deal between Pertamina and Shell included the terms and amount of payment. Reportedly, the value of the acquisition of shares by Pertamina was under USD 1 billion or around IDR 15 trillion.
“We have (dealed) with Shell, to discuss payment terms and the agreed amount of payment," Pahala said as reported by Media Indonesia, Tuesday, July 4, 2023.
In the near future, he continued, the government and Pertamina will announce to the public regarding the transfer of management of the Masela Block which is located in West Southeast Maluku Regency which is geographically bordered by Timor Leste and Australia.
"God willing, this week (announcement), continued discussions with them (Shell) have narrowed down the matter of payment," he said.
Pertamina will partner with an oil and gas company from Malaysia, Petroliam Nasional Berhad or known as Petronas to take the 35 percent PI in the Masela Block.
However, Pahala has yet to confirm whether Petronas will directly manage the project in the near future or not.
This provision, he said, was still being discussed by the Main Director of Pertamina, Nicke Widyawati, together with related staff.
"Later we will see the discussion, this is still ongoing. Will Petronas enter simultaneously with Pertamina, or enter later. I need to hear updates from Mrs. Nicke," he added.
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