INPEX, Shell Acquire EMPI's Stake in Indonesia Gas Block

INPEX and Shell have completed the necessary procedures for the transfer of PT EMP Energi Indonesia (EMPI)’s 10% participating interest in the Masela Block, Arafura Sea, Indonesia (Abadi LNG Project).

This acquisition takes place following EMPI’s decision to divest its participating interest in the Abadi LNG Project.

Based on the agreement, INPEX will continue to act as the operator and retain a 65% participating interest while Shell will hold a 35% participating interest.

In December 2010, the plan of development was approved by the Indonesian government that the Abadi gas field would be developed in phases and that a Floating LNG (FLNG) plant would be constructed and utilized for an annual production of 2.5 million tonnes for the first phase development.