Shell completes stake sale in Indonesian gas project

Shell Upstream Overseas Services, a subsidiary of Shell, has completed the sale of its 35% participating interest in Indonesia’s Masela production sharing contract to Indonesia’s Pertamina and Malaysia’s Petronas, Shell announced on October 18.

The sale, which was announced in July, includes the Abadi gas project. Pertamina Hulu Energi will take 20% and Petronas Masela will take 15% of the project.

Completion of the sale follows regulatory approval from Indonesia’s ministry of energy and mineral resources for the transfer of Shell’s stake to Pertamina and Petronas.

“This divestment is in line with Shell’s focus on disciplined capital allocation. Shell remains active in Indonesia’s downstream and low-carbon fuel sectors,” the company said.