Three $16.3 billion mega projects approved
Wednesday, May 15 2013 - 10:56 AM WIB
The government has approved the plans of development (PoD) for three multi-billion-dollar mega projects in the oil and gas sector.
The projects are the Indonesian Deepwater Drilling (IDD) project in Makassar Strait operated by Chevron Pacific Indonesia, the Jangkrik field in Muara Bakau block in East Kalimantan operated by Italian firm ENI and the Train 3 facility at the Tangguh LNG plant in West Papua operated by BP.
The IDD project is worth US$6.98 billion, while the Jangkrik and Tangguh Train 3 projects are valued $2.14 billion and $7.21 billion respectively.
The government awarded the approvals for the three projects? PoDs during the annual 37th Indonesian Petroleum Association (IPA) conference in Jakarta on Wednesday.
Editing by Johannes Simbolon