Chevron reports gain from geothermal assets sale
Saturday, April 29 2017 - 04:31 AM WIB
By Alexander Ginting
Petromindo|Khalsa
US oil giant Chevron Corp. reported on Friday reported gain of approximately US$600 million from the sales of the Indonesia geothermal business.
Chevron announced in March 2017 that it had concluded the sales of its Indonesian geothermal business to a consortium led by Indonesian firm Star Energy.
Earlier last year Chevron and Star Energy consortium have entered into a sales and purchase agreement with Star Energy Consortium to sell Chevron?s Indonesian and Philippines Geothermal assets.
Indonesian assets comprises of Salak power plant with capacity of 377MW and Darajat with capacity of 255MW. Both plants are located in West Java.
Editing by Reiner Simanjuntak