press release Indonesia Deepwater Development Study Launched

Jakarta, Indonesia, December 13, 2017 – Chevron Indonesia today announced that work has begun to explore alternatives for the Gendalo-Gehem project, the second stage of the Indonesia Deepwater Development (IDD) in the Kutei Basin.

The first stage of IDD, the Bangka Project, began production in August 2016, with capacity for 110 million cubic feet of natural gas and 4,000 barrels of condensate per day. As of today, six Bangka Liquified Natural Gas (LNG) cargoes have been delivered from Bontang LNG terminal, as part of the LNG Sale and Purchase Agreement (SPA) with Pertamina from the Bangka Project over 5 years.

Chuck Taylor, Managing Director Chevron IndoAsia Business Unit, announced the study at a contract signing ceremony on the West Seno floating production unit, where Bangka gas is processed. Mr. Taylor was joined at the event by SKK Migas Chairman Amien Sunaryadi.

“Chevron has been a major partner in meeting the energy needs of Indonesia for over 90 years, driving economic growth and supporting local communities in areas where we operate,” Taylor said.

“Today’s signing of two contracts for IDD feasibility engineering and design work with PT Worley Parsons Indonesia for subsea scope and PT Tripatra Engineering for production facility scope is a step forward for a project that will deliver substantial benefits for the people and the government of Indonesia.”

“This work will explore alternatives which can significantly reduce capital requirements and improve project viability.”

“We appreciate the support of the government of Indonesia for IDD, which has been designated a National Strategic Project.”

The contracts are expected to be completed in 2018. The project is estimated to contain potentially recoverable natural gas resources of approximately 3 trillion cubic feet.

Chevron (operator) has a 63 percent interest in IDD (aggregated), with other joint venture participants being Eni, Tip Top, PHE, and Muara Bakau Parties.

Chevron is one of the world’s leading integrated energy companies and through its Indonesian subsidiaries, has been present in Indonesia for 93 years. With the ingenuity and commitment of highly skilled and dedicated employees, Chevron Indonesia leads as one of Indonesia’s largest producers of crude oil. From our onshore oil fields in Riau, Sumatra and our offshore fields in East Kalimantan, we have produced more than 13 billion barrels of oil to meet the energy needs of Indonesia’s growing economy. In operating the oil and gas blocks in Indonesia, Chevron is working under supervision of SKK Migas based on Production Sharing Contract term. For further information about Chevron in Indonesia, visit indonesia.chevron.com.

Contact:
Danya Dewanti, Jakarta
Email:danya.dewanti@chevron.com
Phone:+62 811894229

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