ExxonMobil Interested to Become Masela Block's Operator

By Editorial Team 18/10/2022
oil and gas exploration
Summary

ExxonMobil is reportedly interested in acquiring Shell Upstream Overseas Ltd's participating interest in Masela Block, Maluku. Upstream Oil and Gas Special Regulatory Task Force (SKK Migas) head Dwi Soetjipto revealed that the company, like Pertamina, is currently studying the prospective acquisition. "Indeed, those contacted by Inpex [Masela Block's operator] included ExxonMobil. Whether the consortium consists of only two or three [investors], it will depend on the development of negotiations," Dwi said on Monday.

Meanwhile, due to financial constraints, Pertamina must collaborate with one or several strategic partners if it wishes to replace Shell in the Masela Block. However, Dwi confirmed, Pertamina and ExxonMobil, conducting separate data studies, are expected to submit non-binding offers to Shell by November.

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