Royal Dutch’ Shell Upstream Overseas Ltd., has proposed the plan to divest ownership of participating rights in the Masela Block to Indonesian government, said the official on Monday (Aug 24). To run the plans, the oil and gas producer had obtained data opening permit from the energy and mineral resources (ESDM) ministry and the Investment Coordinating Board (BKPM).
Head of Special Task Force for Upstream Oil and Gas Business Activities (SKKMigas), Dwi Sutjipto at the hearing with Commission VII of the Indonesian parliament, said after getting permit, the divestment of Shell’ ownership in Masela will soon be carried out. The company would complete the divestment process in 18 months, he adds.
But he assured, until the divestment completed, Shell will be committed to supporting the progress of implementing the Abadi Field project in the Masela Block. Shell now hold 35 percent of Masela’ participating interests joined with INPEX Masela Ltd who owned 65 percent the participating interest.
