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Jakarta Post

RI eyes Italian Eni to take over IDD gas megaproject

  • Norman Harsono

    Jakarta

Jakarta   /   Tue, August 11 2020   /  01:00 am
Chevron workers inspect an oil and gas facility at the Rokan Block in Riau at an unspecified date. Photos were handed out on March 2020.(SKK Migas/SKK Migas)

American oil and gas giant Chevron plans to withdraw from the national strategic Indonesia Deepwater Development (IDD) project in Makassar Strait and the government has wasted no time seeking a replacement. The government has approached Italian oil and gas company Eni to take over the project, said Energy and Mineral Resources Ministry acting oil and gas director general Ego Syahrial on Wednesday. He suggested that Chevron’s exit was “one packet” with the company’s impending exit from the Rokan Block in Sumatra. But analysts have pointed out that exits are common during periods of low global oil prices, such as during the COVID-19 pandemic. “What’s clear is the government’s aim is to ensure this project runs by 2027,” said Ego. Read also: Chevron to buy Noble for $5b in stock, biggest oil deal since price crash Eni Muara Baka...