Chevron to quit Indonesia block: report

Indonesia

JAKARTA, July 11, 2018 – Chevron will not extend its PSC for the Makassar Strait block offshore Indonesia past 2020, international media reported on Wednesday.

The super-major will also remove the block from its Indonesia Deepwater Development natural gas projects, Reuters reported, citing officials from upstream regulator SKK Migas. The extensive offshore development comprises five gasfields spanning the Gamal, Rapak and Makassar Strait PSCs, with total estimated natural gas reserves of 65.1 bcm (2.3 tcf).

The block will be put on auction “as soon as possible,” Djoko Siswanto, the oil and gas director-general at Indonesia’s Ministry of Energy and Mineral Resources, told the agency.

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