JAKARTA - Head of SKK Migas, Dwi Soetjipto revealed that the progress of the transfer of participation rights to Block Masela from Shell to Pertamina was 35 percent going well.
Dwi said that in June Pertamina and the oil and gas company from Malaysia, Petroliam Nasional Berhad or Petronas will manage Masela.
"It is hoped that by the end of June it will be finished. Now Pertamina and Petronas will replace Shell," said Dwi, who was met at the DPR RI Building complex, Tuesday, June 13.
Dwi added that regarding prices, he did not yet know the details of the price set for the transfer of participation rights to the oil and gas block located in the Arafura Sea.
"We have not received a report (price). The important thing is that we see Shell is willing to accommodate the negotiation process," continued Dwi.
Meanwhile, in a Working Meeting with Commission VII of the DPR RI, Minister of Energy and Mineral Resources Arifin Tasrif said that currently there was a meeting point regarding the negotiation of the release of participation rights or participaling 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.
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He continued, there are several things that still have to be done this year related to the LAPAgan Abadi Masela project, namely a FEED (OLNG, FPSO, SURF, and GEP) tender will be carried out 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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