SKK Migas Regarding The Sustainability Of IDD Projects: Still Discussing With Buyers For Divestment

Illustration (Photo: Doc. Antara)

JAKARTA - The Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas) conveyed an update regarding the Sales and Purchase Agreement (SPA) regarding Chevron's management rights in the deep-sea oil and gas project (IDD) to the oil and gas company from Italy, Eni.

Head of the SKK Migas program and Communication Division, Hudi Suryodipuro, said that currently his party is still waiting for an update from Chevron.

"Tang saya tahu mereka masih diskusi dengan buyer untuk divestasinya," ujar Hudi yang ditemui di Kemang, Jumat 14 April.

Hudi also confirmed that the SPA process will take place this April.

When asked about the divestment value of the IDD project, Hudi was reluctant to provide details.

"Later. We will distribute all the details (after the SPA)," he added.

Previously, the IDD which was originally held by Chevron decided to leave Indonesia.

The investor left Indonesia due to the lack of investment in the upstream oil and gas sector.

ENI is also officially the manager of the IDD project after taking the right to participation or participating interest (PI) from PT Chevron Pacific Indonesia.

Just so you know, the IDD project is one of four national strategic projects with a potential production of 844 million standard cubic feet per day (mmscfd) for natural gas and 27,000 barrels of oil per day (bopd).