SKK Migas Boss Leaks Pertamina And Petronas Portion If Acquisition Of Masela Block

JAKARTA - PT Pertamina (Persero) and a oil and gas company from Malaysia, Petroliam Nasional Berhad, Petronas is increasingly determined in managing oil and gas treasure in eastern Indonesia, Blok Masela.

The two oil and gas companies will later narrow 35 percent of Shell Upstream Overseas Ltd's participation rights.

Head of the Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas) Dwi Soetjipto who was met at the Ministry of Energy and Mineral Resources Building gave a leak related to the portion of the participation rights of each company in managing Masela.

Dwi explained, if based on the information received, Pertamina would narrow down by 20 percent and Petronas by 15 percent.

"This depends on them (Pertamina and Petronas). If I'm not mistaken, 20 percent of Pertamina, 15 percent of Petronas. Pertamina must be bigger," he said, quoted on Tuesday, July 4.

Dwi said that the presence of Petronas reduced Pertamina's burden in taking over the PI by 35 percent.

He said, since the beginning Petronas had a high interest in joining Pertamina in managing Masela.

"At least what we know is that Petronas is quite interested in advancing there," explained Dwi.

Regarding the signing of the inter-companies agreement, he said, his party is still waiting for the two companies that are currently compiling the Shares Purchase Agreement (SPA) so that he predicts the signing will only take place in the middle of this month.

"It was planned for a deal in June and July to be signed," said Dwi.

Previously, the Minister of Energy and Mineral Resources (ESDM) confirmed that the process would be completed by the end of June 2023 and Pertamina would pay half of the agreed value as a sign of completion.

"The target is to take partcipating interest and it will be completed by the end of this month. That's half of it used to be finished," said Arifin, who was met by the media at the Ministry of Energy and Mineral Resources Building, Friday, June 16.