K&L Gates Advises PT Pertamina Hulu Energi on Acquisition of Participating Interest in Masela Production Sharing Contract
Global law firm K&L Gates LLP has advised PT Pertamina Hulu Energi (PHE) on the purchase of Shell’s participating interest in Indonesia’s Masela Production Sharing Contract (Masela PSC), together with Petronas Masela Sdn. Bhd. The transaction is subject to the completion of certain conditions, including regulatory approval from the Indonesian Ministry of Energy and Mineral Resources.
The transaction will allow the buyer to enter into the contract with Inpex Corporation (Inpex), which holds a 65% operating interest in the Masela PSC and is the operator of the Abadi gas project. LNG will be shipped from the proposed LNG terminal, serving both domestic industries and overseas customers. Inpex has proposed a carbon capture and storage scheme in order to capture carbon dioxide before it enters the atmosphere, thereby reducing greenhouse gas emissions.
“We’re honored to have assisted Pertamina on this strategic transaction and excited to witness the positive impact the acquisition will have on Indonesia's growth and strategic objectives,” said Toime.
K&L Gates is a fully integrated global law firm with lawyers located across five continents. The firm represents leading multinational corporations, growth and middle-market companies, capital markets participants and entrepreneurs in every major industry group as well as public sector entities, educational institutions, philanthropic organizations and individuals.