ID :
18144
Fri, 09/05/2008 - 12:53
Auther :

INDONESIA APPROVES CHEVRON'S DEVELOPMENT PLAN

Jakarta, Sept 5 (ANTARA) - The Indonesian Government has approved Chevron Indonesia Company's plan to develop five marine fields in the Makassar Strait, namely Gendalo, Maha, Gandang, Gehem, and Ranggas, according to a press release from the Ministry of Energy and Mineral Resources (DESDM) made available to ANTARA here Thursday.

The approval was signed by the Minister of Energy and Mineral Resources Purnomo Yusgiantoro last week (Aug 29).

Three of the marine fields, Gendalo, Maha, and Gendang, are covered by the concession known as Ganal Block managed by contractor Chevron Ganal Ltd.

Meanwhile, Ranggas and Gehem fields are covered by the Rapak Block, and run by the contractor Chevron Rapak Ltd.

Following the development plan, Chevron must fulfill its obligation to report the stages of realization and progress periodically once in every 6 months to the Directorate General of Oil and Gas, of the Ministry of Energy and Mineral Resources.

In anyway there is a change of the development scenario, back-up plans, sufficient production levels, and correction in investment cost, than Chevron would also have to submit a change to the development plan.

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