Shell acquires 30% in Abadi FLNG from INPEX Masela
Shell has signed an agreement to acquire a 30% interest in the Masela PSC in Indonesia from INPEX Masela (a 51:49 JV between INPEX and JOGMEC). The PSC contains the giant Abadi gas field, which is earmarked for development as a floating LNG (FLNG) project - one of the first in the world. No consideration has been disclosed. Based on the current plan of development - for a 2.5 mmtpa FLNG module - we value the asset at US$1.24 billion (NPV10, discounted to 1 January 2011), or US$372 ...