The negotiation process between PT Chevron Pacific Indonesia and Eni for the transfer of management of the Indonesia Deepwater Development project is targeted to be completed by March 2021.
Deputy for Operations of the Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas) Julius Wiratno said that his party hopes the Indonesia Deepwater Development project (IDD) will immediately get new partners so that project implementation can be carried out quickly.
"It is hoped that the IDD will be completed by the end of March. Hopefully, the B to B will run smoothly, "he said.
Chevron Pacific Indonesia Corporate Communication Manager Sonitha Poernomo said that his party is still working with SKK Migas and potential partners to continue realizing the potential of the IDD project.
"However, according to policy we cannot provide detailed information on commercial negotiations," said Sonitha Poernomo.
Head of SKK Migas Dwi Soetjipto said that Chevron had applied for a data opening permit to find new investors since July 2019 and was submitted again in February 2020. Dwi revealed that ENI was one of the most potential partners for the project.
"New operators can start proposing an extension of the Work Area and at the same time finalizing the discussion on the proposed revision of the IDD POD-I," he said.
In other developments, SKK Migas noted that the realization of oil and gas investment as of January 2021 had reached the US $ 873.2 million. Acting Head of Program and Communication Division of SKK Migas Susana Kurniasih explained that the realization was 7.05 percent of this year's investment target of US $ 2.38 billion. This achievement is even better than the realization of investment in the same period last year which was valued at the US $ 767.5 million or 5.55% of the target.
Susana explained investment realization during January 2021 was used to support exploration activities, including those carried out by Pertamina EP, Pertamina Hulu Mahakam (PHM), ENI East Sepinggan, Pertamina Hulu East Kalimantan, and PHE OSES. Investments are also used to finance development activities, particularly to finance development well drilling activities.
Bisnis Indonesia, Page-4, Tuesday, Feb 23, 2021
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