Shell and Inpex today announced that they have completed the necessary procedures for the transfer of PT EMP Energi Indonesia (EMPI)’s 10% participating interest in the Masela Block, Arafura Sea, Indonesia (Abadi LNG Project). The participating interest is assigned in equal proportions of 5% (five percent) each to INPEX and SHELL.
This acquisition takes place following EMPI’s decision to divest its participating interest in the Abadi LNG Project. Based on the agreement, INPEX will continue to act as the operator and retain a 65% participating interest while Shell will hold a 35% participating interest.
With continued support from the Indonesian Government and other stakeholders, INPEX and its partner Shell will proceed with the Abadi LNG Project for a successful commercial production.