Chevron expected to complete sale of geothermal assets in December

PT Chevron Geothermal Indonesia is expected to announce the winning bidder for its two geothermal assets in Indonesia in December of this year, Kontan reported on Thursday.

The paper quoted Yunus Saefulhak, Director of Geothermal at the Directorate General of New and Renewable Energy, as saying that the company will start opening the data room on Thursday, which is expected to last until December.

Chevron has announced plans to sell its geothermal assets in Indonesia and the Philippines. In Indonesia, according to the firm?s website, Chevron operates the Darajat and Salak working areas in West Java province, which have a combined operating capacity of 647 MW. Chevron operates the geothermal fields through two subsidiaries, namely Chevron Geothermal Indonesia, Ltd., which manages the Darajat project and Chevron Geothermal Salak, Ltd., operates the Salak project.

Director General of New and Renewable Energy Rida Mulyana said previously that there 34 companies which have expressed interest in the Chevron geothermal assets. They include IDX-listed PT Medco Energi Internasional Tbk and state-owned oil and gas firm PT Pertamina. (*)