INPEX CORPORATION announced that its affiliate INPEX Masela, Ltd. and Shell Upstream Overseas Services Limited, a subsidiary of Royal Dutch Shell plc, 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).
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.
INPEX said it continues to seek support from the Indonesian Government and other stakeholders for a successful commercial production from the Abadi LNG Project.