International oil major Shell will invest approximately $20 billion in Masela offshore block, located the Arafura Sea, Indonesia.
According to Reuters, Indonesia’s Chief Economic Minister Hatta Rajasa said yesterday that Shell would gradually invest $20 billion between 2013 and 2019.
In December, 2011, Shell acquired a 30% participating interest in the Masela Block (Abadi project). Inpex is the operator of the project with 60% interest.
The Abadi gas field will be developed in phases and that one FLNG plant will be constructed and utilized for the annual LNG production of 2.5 million ton for the first phase development.
First production from the field is expected to begin in 2018.
Offshore Energy Today Staff, June 8, 2012