JAKARTA - Minister of Energy and Mineral Resources (ESDM) discussed the progress of the transfer of management of the Masela Block from Shell to Pertamina with Commission VII DPR RI.
In his presentation, Minister of Energy and Mineral Resources Arifin Tasrif said that currently there is a meeting point regarding the negotiation of the release of participation rights or participation interest (PI) of 35 percent of the Masela Block by Shell to PT Pertamina (Persero).
"It is hoped that it will be executed starting at the end of June, so that this program can be continued," said Arifin, quoted on Wednesday, June 14.
Arifin added, regarding the progress status of the project negotiations, among others, several aspects such as technical, environmental and commercial approvals including the original Work Program & Budget (WP&B) in 2023 3 for the implementation of the 2023 project, for the implementation of non-forest area land acquisition projects, marketing activities, and AMDAL studies.
He continued, there are several things that still have to be done this year related to the LAPAgan Abadi Masela project, namely the FEED (OLNG, FPSO, SURF, and GEP) tenders whose current status is preparation and waiting for INPEX HQ's success regarding the clarity of the investment and development plan. Furthermore, the revision of 2 POD-1 where SKK Migas and INPEX have agreed to include carbon capture storage (CCS) into a revised scope of 2 POD-1.
"The thing that needs to be done so that the Masela Abadi apat project runs, among others, is the revision of the two Masela field PODs by including the carbon capture program, with an additional investment of 1.1-1.4 billion US Dollars," explained Arifin.
Inpex, he said, had submitted a letter of application for revision of two related to Field 1 development plans by including the carbon capture storage program to SKK Migas on April 4, 2023.
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