Thursday, October 20, 2016

Indonesia: Sales Negotations for Chevron Geothermal Assets to Begin in November

Six companies pass binding bid for Chevron Indonesia geothermal assets (Rambu Energy)

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 610 MW 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.