25-7-2023 (JAKARTA) Indonesia’s state-owned oil and gas company Pertamina and Malaysia’s national oil and gas company Petronas have signed an agreement with Shell to acquire its 35% stake in the Masela gas project in Indonesia. Under the deal, a unit of Pertamina will take a 20% stake, while a unit of Petronas will acquire a 15% stake in the project. The agreement was signed at the annual Indonesia Petroleum Association conference.
The Masela gas project, located in the Arafura Sea in eastern Indonesia, is estimated to hold around 10.7 trillion cubic feet of gas reserves. The project is expected to produce around 9.5 million tonnes per annum of liquefied natural gas (LNG), which will be exported to global markets.
