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Six companies pass binding bid for Chevron Indonesia geothermal assets

JAKARTA ( – Indonesia’s Directorate General for New, Renewable and Energy Conservation (EBTKE) at the Energy and Mineral Resources Ministry (ESDM) has disclosed that six companies have passed the binding bid over the auction of geothermal energy assets owned by Chevron Indonesia.

The six companies are Marubeni Corporation, Star Energy, Mitsui&Co Ltd, Medco Energi, PT Pertamina and PT Perusahaan Listrik Negara (PLN). The six companies were selected out of 44 interested parties.

“The final decision on this transaction is targeted to be completed in December 2016,” said Director for Geothermal at the EBTKE Yunus Saeefulhak. He said the auction over the Chevron Indonesia assets is now entering the 5th phase.

The next phase is the sales and purchase negotations between Chevron Indonesia and the potential bidders, which will be done in November.

Chevron operates two geothermal assets in Indonesia, namely WKP Darajat with power capacity of 240 MW and WKP Gunung Salak with capacity of 370 MW. Both geothermal assets are located in West Java.

Chevron holds 95 percent interest in the two geothermal assets respectively. In addition, Chevron operates three geothermal power plants (PLTP) with estimated value of US$3 billion.

Chevron has said it decided to offload its Indonesian geothermal assets as the company wanted to focus on upstream oil and gas business in Indonesia. (*)

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