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Chevron Reschedules $12b Deep Water Gas Project

Source: Reuters 10/12/2014, Location: Asia

PT Chevron Pacific Indonesia, a unit of Chevron Corp, has submitted an official letter saying it would temporarily delay its deep water gas development project worth $12 billion in Makassar Strait, East Kalimantan, according to Naryanto Wagimin, director for upstream business at the energy and mineral resources ministry.

Chevron plans to revise its calculations for the project, said Naryanto, adding that the firm has discovered fresh gas reserves. (Kontan, Bisnis Indonesia)

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