Sinopec acquires stake in Chevron's Indonesia deepwater assets
Sinopec is to acquire an 18% stake in Chevron's deepwater assets in the Makassar Straits, Indonesia. The Ganal, Rapak and Makassar PSCs contain significant volumes of undeveloped gas. Chevron recently awarded Front End Engineering and Design (FEED) contracts, with a view to commercialising this multi-tcf resource through a US$7 billion development project. The majority of the gas is expected to be supplied to the Bontang LNG plant.Details of the commercial arrangement have not been ...