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Indonesia Pertamina finalising takeover of Shell's Masela shares — CEO

Tan KW
Publish date: Tue, 06 Jun 2023, 09:21 PM
Tan KW
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JAKARTA Indonesia state energy firm Pertamina is finalising an acquisition of Shell's shares in the country's Masela gas project, its chief executive officer said on Tuesday (June 6).

Indonesia's energy minister on Monday said Pertamina was leading a consortium of investors to take over Shell's 35% participating interest in Masela block.

Authorities are keen to develop the project after years of delays.

"There are high hopes that this giant gas block can be developed soon so the gas asset in Masela can be monetised," chief executive Nicke Widyawati told a press conference.

Shell's Indonesian unit had so far declined to comment on the possible deal.

Government officials had repeatedly urged Shell to deliver on the sale and accused it of dragging it out.


  - Reuters


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