Amelia Rahima Sari, Jakarta – Minister of Energy and Mineral Resources Arifin Tasrif revealed that PT Pertamina and Shell Upstream Overseas Ltd have agreed on the acquisition of 35% participating interest in the Masela Block.

"We are hoping to officiate this July, no more delay. August 17 is approaching," said the minister when met at his office in Central Jakarta on Friday, July 7, 2023.

Previously, in a joint meeting of Commission VII of the House of Representatives on Monday, June 5, 2023, Arifin expected the deal between Shell and Pertamina to be finalized in June 2023.

Arifin refused to openly answer regarding Pertamina's participating interest with Petronas since the matter was only business to business interest.

Meanwhile, the Head of the Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas) Dwi Soetjipto said that the participating interest between Pertamina and Petronas in Masela Block is between the two companies.

"Initially it was 20% for Pertamina and 15% for Petronas. But they are currently drafting the sales and purchase agreement," said the minister. However, he admitted that the agreement is not finalized. He projected the agreement to be finalized this July

Source: https://en.tempo.co/read/1745676/pertamina-and-shell-agree-on-masela-block-acquisitio