Pertamina interested to acquire Chevron geothermal assets

State-owned oil and gas firm PT Pertamina is interested to acquire geothermal assets of US energy giant Chevron Corp following recent reports that the latter plans to sell its assets in Indonesia and the Philippines, Investor Daily reported on Tuesday.

?We?re interested (in the assets), we?ll talk this over,? said Pertamina Upstream Director Syamsu Alam on Monday, but could not yet decide which assets to be acquired.

Meanwhile, Director General of New and Renewable Energy Rida Mulyana confirmed recent reports including by this portal that Chevron was planning to sell its geothermal assets in Indonesia and the Philippines. He said that Chevron has asked for the opening of the assets? data room.

As has been reported by this portal, quoting sources, Chevorn has hired Citigroup to help it in the process of selling the geothermal assets in Indonesia and the Philippines.

In Indonesia, Chevron operates the Darajat and Salak fields, West Java, which have a combined operating capacity of 647 megawatts.

Chevron also has a 40 percent interest in the Philippine Geothermal Production Company, Inc., the operator of the Tiwi geothermal facility in Albay Province and the Mak-Ban geothermal facility in Laguna and Batangas provinces. These fields provide steam to the third-party Tiwi and Mak-Ban geothermal power plants in southern Luzon. These plants have a combined generating capacity of 692 megawatts.

Aside from Pertamina, recent reports said other companies which are also interested in acquiring the assets including Engie from France, Japan?s Marubeni, Japan?s Mitsui, Thailand?s Banpu Power, and Aboitiz Power from the Philippines.(*)