Inpex, Shell to boost stakes in Abadi LNG

Inpex Masela Ltd. and Shell Upstream Overseas Services (I) Ltd. have signed an agreement to acquire and split equally a 10% participating interest to be divested by PT EMP Energi Indonesia in the Abadi LNG project offshore Indonesia (OGJ Online, Jan. 25, 2013).

At completion of the deal, shares will be Inpex Masela, the operator, 65% and Shell 35%.

The companies plan to install a floating LNG facility to produce 2.5 million tonnes/year in the first phase of development of Abadi gas field on the Masela Block in the Arafura Sea.