Revision Of POD Completed This Month, Minister Of Energy And Mineral Resources Pede Masela Starts Operation At The End Of 2029

Oil refinery (photo: intermediate dock)

JAKARTA - Minister of Energy and Mineral Resources (ESDM) Arifin Tasrif believes Blok Masela can start operating according to the target set by the government, namely December 31, 2029.

"Masela jalan, kita target tetap seperti yang 2029 tanggal 30 Desember 2029," ujar Arifin kepada media yang dikutip Jumat 6 Oktober.

After being officially taken over from Shell, Pertamina, Petronas and Inpex will jointly develop a gas block located in Tanimbar Islands Regency, Maluku. Masela is currently undergoing a revision of the Plan of Development before it begins to be developed.

Arifin predicts that the POD revision will be completed this month and will soon be submitted to the Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas).

"They are preparing (POD revision). Hopefully this month it can be submitted to the SKK, later discussed, of course, accelerating as long as the economy can still be done," explained Arifin.

He added that the important point in the POD revision was related to the addition of carbon capture or carbon capture assets.

"The most important thing is to enter carbon capture. The most important thing is that there must be a special effort to accelerate it, maybe we should discuss it," continued Arifin.

For your information, PT Pertamina Hulu Energi (PHE) previously signed a sale and purchase agreement for the acquisition of Shell ownership in the Masela Block, where PHE in collaboration with Petronas took over 35 percent of Shell's ownership in the block.

PHE will later manage 20 percent of the holdings and 15 percent will be managed by Petronas Masela.