Pertamina enters, Masela development plan revised

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Jakarta, Klinik Farma – The Ministry of Energy and Mineral Resources (ESDM) is awaiting a revision of the development plan or development plan (PoD) for the Masela block, which will be completed shortly. This corresponds to the entry of PT Pertamina (Persero) and Petronas into the bloc instead of Shell.

Director General of Oil and Gas (Dirjen Migas) of the Ministry of Energy and Mineral Resources, Tutuka Ariaji, said the revision of the PoD is necessary in order for the members of the consortium to have the same program. Inpex as an operator has previously drawn up a development plan with a previous consortium.

“PoD already existed, PoD was made by Inpex, so it needs to be agreed upon by all three parties. Later, there is hope that there will be a revision agreed by them together, in the sense that there should be an acceleration,” Tutuka said during a meeting in the building of the Ministry of Energy and Mineral Resources, quoted on Wednesday (09/08/2023).

Tutuki said his party is hopeful that the revision of the PoD, which the new members of the consortium are working on, can be completed this month. Thus, the development of the Masela block can start immediately. “At the end of this month, you will be able to say when the PoD will be completed,” Tutuka said.

As you know, PT Pertamina (Persero) has finally signed a sale and purchase agreement with Shell Upstream Overseas Services (I) Limited (“SUOS”), a subsidiary of Shell, to acquire a 35% stake (PI) in the Masela block.

The total cost of the acquisition reached US$650 million or Rs. 9.75 trillion. In the process of acquiring Pertamina through its subsidiary Pertamina Hulu Energi (PHE) is working with PETRONAS through PETRONAS Masela Sdn. Bhd. (PETRONAS Masela).

PT Pertamina (Persero) President and CEO Nike Vidyawati said some time ago that the development of the Masela block is very important and needs to start immediately. This is due to the fact that gas production at the Masela block can generate income for the state.

“With the advent of Pertamina, our commitment is to develop as soon as possible so that the gas in the depths of Masela’s land can be monetized and generate income for the state and increasecreate regional and national economy,” Nike said at a media briefing on Pertamina’s achievements in 2022 on Tuesday (06/06/2023).

[Gambas:Video CNBC]

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