PetroChina Interested in Masela Block

Upstream Oil and Gas Special Regulatory Task Force (SKK Migas) head Dwi Soetjipto revealed that Chinese oil and gas company PetroChina Company Ltd wants to invest in the Masela Block. Petrochina is the fourth company expressing interest in the oil and gas work area located in the Maluku Province. “[There are four suitors] including PetroChina. However, we are still waiting for the study of each interested party," Dwi said on Wednesday. SKK Migas wants to settle the decision on which company that will replace Shell Upstream Overseas Ltd in the project.

Meanwhile, DPR's Energy Commission chairman Sugeng Suparwoto said the DPR has been pushing PT Pertamina to invest in the Masela Block by teaming up with other companies. Currently, the state-owned oil and gas holding company has other priorities, such as working on the Refinery Development Master Plan (RDMP), which is quite budget-consuming. "Ideally, the state-owned enterprise investing in it, in this case, Pertamina, is technically and financially capable. However, the RDMP project also requires a large amount of money," he said.