PetroChina Interested in Masela Block

Summary

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.

Start your free trial.

If you would like to get a 30-day free unlimited access to all of our insights, please click “Start free trial” button below. If you already have an account, please login.

What do subscribers receive?

As a subscriber, you’ll receive daily insights, weekly business digests, and quarterly industrial reports.

What kind of pieces will i get?

In-depth reports on assumption and impact analysis, as well as update and trends mapping, written by our credible and experienced analysts.

And, there is something else…

Enjoy a 30-day free trial, on us. Feel free to contact us with any additional questions you have.