SHELL has agreed to sell its sole partner stake in Inpex's Masela production sharing contract offshore Indonesia, which hosts the giant Abadi gas field, to Pertamina and Petronas for up to $650 million. The Indonesian authorities are reviewing Japanese operator Inpex's plans to exploit Abadi as a 9.5 million tonnes per annum onshore liquefied natural gas project, which would include a carbon capture and storage scheme. Shell confirmed on Tuesday that its subsidiary Shell Upstream Overseas Services (SUOS) had agreed to sell its 35% participating interest in the Masela PSC for a base consideration of $325 million cash.
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