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View all search resultsState-owned oil and gas giant Pertamina and Malaysia’s Petronas have officially acquired Shell’s 35 percent participating interest in the Masela oil and gas block in Maluku, which also includes the Abadi gas project, for US$650 million.
Pertamina and Petronas are finally set to conclude taking over Shell's 35 percent shares in the Masela oil and gas block, a process that has been beset by fits and starts, including delays due to the COVID-19 pandemic.
The government is considering having Pertamina buy Shell’s 35 percent stake in the Abadi liquefied natural gas (LNG) project in the Masela Block, but experts say financial constraints in dealing with multiple giant projects may make that a difficult prospect for the state-owned company.
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