GAIL eyeing stake at Chevron?s deepwater gas project
Monday, April 25 2011 - 02:18 AM WIB
Indian firm GAIL (India) Ltd is in talks with US energy major Chevron to acquire stakes in its deepwater natural gas blocks in Indonesia, India?s media The Telegraph reported on Monday.
?Preliminary discussions have been held with the US firm. Chevron officials and Indonesia upstream regulator BPMIGAS will soon be coming to the country to hold further talks,? company sources said.
Chevron plans to sell its stakes in two deepwater projects ? Gendalo-Gehem and Bangka ? in Indonesia. It plans to reduce its shares in the blocks this year to 55.1 per cent and 54 per cent, respectively, from 80 per cent, the firm said in its filing with the US Securities and Exchange Commission. (*)