Chevron considering sale of IDD stake
Published by Will Owen,
Editor
LNG Industry,
According to Reuters, Chevron Corp. is weighing the potential sale of its stake in the Indonesian Deepwater Development (IDD) gas project.
The IDD project is located in the Makassar Strait and covers the Bangka, Gendalo and Gehem gas fields.
Chevron’s latest company statement announced that a final decision had not been made yet, however specific details regarding the status of negotiations were not revealed.
The potential sale of the IDD stake is considered likely to be part of Chevron’s plan, announced in late 2019, to cut costs and streamline its operations. The announcement suggested that some of the company’s stakes in natural gas project would be sold in preparation for a period of low prices in the long term.
Read the article online at: https://www.lngindustry.com/liquefaction/24012020/chevron-considering-sale-of-idd-stake/
You might also like
JGC-Hyundai joint venture considered as EPC contractor for LNG project in Papua New Guinea
JGC Corp. and Hyundai Engineering & Construction Co., Ltd have been selected as the EPC contractor for a major low carbon LNG plant as part of the Papua LNG project planned by TotalEnergies and its venture partners in Papua New Guinea.