Insight
PERTAMINA, PETRONAS acquire Shell's Abadi LNG stake
Report summary
Shell has announced the sale of its 35% stake in the Masela PSC to a consortium of PERTAMINA (20%) and PETRONAS (15%) for a combined US$650 million. The long-trailed deal is a positive step for Indonesia’s giant Abadi LNG project, which has been beset by a series of development revisions since an initial Plan of Development was approved in 2010. With Indonesia now having greater skin in the game, via PERTAMINA’s stake, there is renewed hope the project can now make meaningful progress.
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