PSHP LAW Advises Shell on The Sale of its Participating Interest In Indonesia's Masela LNG Project
We are delighted to share that PSHP Law has successfully acted as Indonesian legal counsel for Shell Upstream Overseas Services (I) Limited (SUOS), a subsidiary of Shell plc on the divestment of its 35% participating interest in Indonesia’s Masela LNG Project to PT Pertamina Hulu Energi (PHE) and PETRONAS Masela Sdn. Bhd (PETRONAS Masela). The sale includes the giant Abadi gas field. Completion of the divestment took place last week on 18 October. The signing of the SPA took place on 25th July during the opening of this year’s 47th IPA Convention and Exhibition at ICE, BSD City.
The PSHP Law team was led by its head of corporate practice, Avinash Panjabi, and supported by associate, Einar Fausta Hertianto.
We are pleased to advise Shell on this significant transaction which is anticipated to be the largest disposal of an upstream oil and gas interest in Indonesia in 2023. Our work on this strategic transaction is a testimony of the firm’s deep expertise and experience in the oil and gas and energy transition space in Indonesia.
We extend our warmest congratulations to the Shell, PHE and Petronas teams for the successful completion of this transaction and wish all current Masela PSC Contractors all the best in the development of the Project.
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