Indonesia M&A | Pertamina/PETRONAS team up to buy Abadi LNG stake from Shell for US$650 million

July 31, 2023

On 25 July 2023, Pertamina and PETRONAS announced they are to acquire Shell’s 35% stake in the Masela PSC (also known as the Abadi LNG project) in Indonesia for US$650 million. The consideration is split into US$325 million cash up front, with the remaining balance to be paid upon project FID. Pertamina and PETRONAS are to take 20% and 15% stakes respectively.