Shell Completes Sale of Interest in Indonesia’s Masela Block
Sale includes stake in the Abadi gas project.
Shell Upstream Overseas Services Ltd. (SUOS), a subsidiary of Shell plc, has completed the previously announced sale of its 35% participating interest in Indonesia’s Masela Production Sharing Contract (PSC) to Indonesia’s PT Pertamina Hulu Energi and Malaysia’s Petronas Masela Sdn. Bhd.
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. The sale includes the Abadi gas project.
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.
INPEX Corporation holds a 65% operating interest in Masela PSC and is the operator of the Abadi gas project. Abadi is in the Masela block, 150 km offshore Saumlaki in Maluku province, Indonesia.
SUOS acquired its interest in the Masela PSC in 2011.