The desire of Royal Dutch Shell to flee from the Masela Block was so serious. Research institute Rystad Energy has even released research, Shell is eyeing funds of up to the US $ 2.2 billion from the sale of 35% of participating interest in participating in the Abadi Gas Field.
the Abadi Gas Field
Rystad Energy Readul Islam analyst said, even in good economic conditions, it is very difficult to predict the parties who are interested in buying Shell's participating shares in the Masela Block.
From its origin, global oil and gas players are likely to have shopped for current liquefied natural gas (LNG) exposures. He even considered Inpex Corporation could involve the Japanese government and the Japanese consortium to take over Shell's shares.
"But with Shell's value of US $ 2.2 billion, it is difficult to see Inpex, which is financially limited," he said, as quoted by energy voice dot com.
Executive Director of Upstream Consultant, Molyneux Advisors, Simon Molyneux, assessed that the Masela Block project has very high development costs and there are technical challenges that will be faced by potential buyers of Shell participation rights other than companies from Japan, according to him, it is possible that the Indonesian government will open up to investors come from China.
For investors from Japan, chances are, the Mitsubishi Group is also likely to be interested in the Masela Block, given Mitsubishi's lunge in general in Indonesia. Asia Pacific Research Director Wood Mackenzie Andrew Harwood said the plan to release Shell's participation rights in the Masela Block was more complex than the issue that had circulated about Shell's flee in 2019.
It is unlikely for giant oil and gas players to replace Shell in the Masela Block. According to him, there are several national oil and gas companies (NOCs) in the Asian region that have the opportunity to enter the Masela Block. The move is to market LNG to his country.
Rhea Sianipar
Shell Indonesia's Vice President for External Relations Rhea Sianipar was reluctant to answer the amount of the release of participation rights.
Rhea just said, "We cannot provide further comments regarding Shell's portfolio activities. There has been no comment from us," Rhea said.
Acting Corporate Communication Manager of Inpex Masela, Moch N. Kurniawan also declined to comment. But he ensured, his party remained focused on developing the Masela Block Abadi LNG project and was confident that the project would continue.
Nicke Widyawati
What about PT Pertamina (Persero)? When asked whether he was interested in taking Shell's shares in the Masela Block, PT Pertamina's Managing Director Nicke Widyawati only replied that his party was currently looking for opportunities to acquire oil blocks.
"I am looking for oil, Masela is only gas," said Nicke Widyawati.
Kontan, Page-12, Monday, July 20, 2020
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