Commission VII of the House of Representatives (DPR) of the Republic of Indonesia summoned SKK Migas and Inpex Corporation in a closed Working Committee Meeting, Monday (December 12). One of the points discussed at the meeting was the acceleration of the Abadi Masela project.
the Abadi Masela project
When met at the DPR Building, Inpex's management was reluctant to comment on the discussions at the meeting. The Council also cannot provide an overview regarding the preparations for the Masela project in the near term.
Deputy for Development Exploration and Management of the SKK Migas Work Area, Benny Lubiantara, gave a brief description. One of the discussions discussed in the Working Committee is how to speed up the Masela project so that it starts immediately.
"The head of SKK Migas Dwi Soetjipto said that this project is taking place in parallel, so there is no waiting for more, so activities will begin immediately in early 2023," said Benny Lubiantara.
While waiting for Shell replacement, which is processing the sale of its 35% participating interest, Benny explained, a number of other activities in the Masela Block are still taking place in parallel. One of them includes Carbon Capture Storage (CCS) and Carbon Capture Utilization and Storage (CCUS) technologies in the Plan of Development (PoD) plan.
"The study already exists, it must go forward," said Benny Lubiantara.
Regarding the value of Shell's Participating Interest (PI) that is being bid by Pertamina, Benny could not comment. Benny said the PI valuation was based on a business-to-business (B2B) process between Shell and Pertamina.
Head of SKK Migas Dwi Soetjipto hopes that in December 2022 the revision of the PoD which already includes the implementation of CCS/CCUS will be entered soon.
"Based on the results of a study regarding the CCS/CCUS facility that will be implemented in the Abadi Masela Block, it requires an investment of US$ 1.2 billion to US$ 1.3 billion," said Benny.
Not long ago, BUMN/State-Owned Enterprise Deputy Minister Pahala Nugraha Mansury said that the due diligence process for Pertamina's takeover of Shell's 35% participating interest in the Masela Block could be completed in the first quarter of 2023. According to Nugraha Mansury, the due diligence process will be followed by the submission of a binding offer by Pertamina to be evaluated by Shell.
Kontan, Page-12, Tuesday, Dec 13, 2022
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