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Project Insights

Chevron seeks deepwater exit in Indonesia

Chevron is looking for potential buyers for its giant Indonesia Deepwater Development, but it could struggle to do so as other IOCs are also exiting the region Chevron is looking for potential buyers for its giant Indonesia Deepwater Development, but it could struggle to do so as other IOCs are also exiting the region.
By Damon Evans 13 February 2020 Asia Pacific / Exploration & Production 0 35015
Chevron and SKK Migas officials at the West Semu FPU after the IDD study launch in 2017. (Chevron)

The key issue: Jakarta has failed to entice Chevron to develop its giant Indonesia Deepwater Development project, and the United States major plans to sell its operating stake.

Chevron is seeking potential buyers for its giant Indonesia Deepwater Development (IDD) project after failing to agree a commercially attractive development plan with the government.

But it could struggle to find buyers as other majors and IOCs are also ramping up divestment campaigns across Asia.

The United States major has opened discussions about the potential sale of its 63%...