Coordinating Maritime Affairs Minister Luhut Pandjaitan says PT Chevron Pacific Indonesia (CPT), the local unit of the United States-based oil and gas giant Chevron Corp., has expressed interest in continuing its operation of the Rokan block in Riau, one of the most productive oil blocks in the country.
"They [company officials] told me that the block [Rokan] is good. [...] They explained that their new technology will boost oil reserves in the block by up to T billion barrels,” he said.
Luhut’s statement was made after meeting with Chevron indoAsia business unit managing director Chuck Taylor and CPT senior vice president for policy, government and public affairs Yanto Sianipar at Luhut’s office in Jakarta recently.
The minister said the oil firm also wanted to cut costs for Indonesia Deepwater Development (IDD) by up to 50 percent. The auction of Rokan will begin in july as Chevron's contract is slated to end in 2021. The new contractor must agree to the gross-split scheme.
Meanwhile, Yanto said he met with Luhut to update the government on Chevron's achievements. When asked about the possibility of a contract extension, he only said “we always try to be punctual in every project"
Jakarta Post, Page-14, Friday, June 8, 2018
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