Shell has finalized a previously announced sale of its 35% participating interest in Indonesia’s Masela Production Sharing Contract (Masela PSC) to Petronas and Indonesia’s PT Pertamina Hulu Energi. SUOS acquired its interest in the Masela PSC in 2011.
The sale also includes the Abadi gas project. Completion of the sale follows regulatory approval from Indonesia’s Ministry of Energy and Mineral Resources for the transfer of Shell stake to PT Pertamina Hulu Energi Masela and Petronas.
This divestment is in line with Shell’s focus on disciplined capital allocation, as Shell remains active in Indonesia’s downstream and low-carbon fuel sectors. Shell companies in Indonesia manage downstream businesses, which include mobility, lubricants and marine.