ASEAN KEY DESTINATIONS
Chevron's Bangka Field produces first gas
Chevron Indonesia Company Ltd announced on Wednesday that Bangka Field, Chevron's Indonesia Deepwater Development (IDD) project in East Kalimantan, had produced its first natural gas.
According to Chevron IndoAsia Business Unit managing director Chuck Taylor, the first gas from Bangka Field was a significant milestone and highlighted the company's commitment to continue the government's energy goals and deliver energy to Indonesia safely, efficiently and reliably.
"The project represents Chevron's commitment to bring global capabilities and advanced technology to Indonesia and applies best practices and expertise from our deepwater developments around the world," Taylor said in a statement on Wednesday.
The Bangka project has a design capacity of 110 million cubic feet of natural gas and 4,000 barrels of condensate per day. Chevron has a 62 percent interest in the Bangka project with the other contributing joint venture participants being Eni with a 20 percent interest and Tip Top with an 18 percent interest.
A final investment decision was reached in 2014, following government approvals. Chevron began drilling the development wells in the second half of 2014.
"For more than 90 years, Chevron has been a major partner in meeting the energy needs of Indonesia, driving economic growth and supporting local communities in East Kalimantan and the other areas where we operate in Indonesia," Taylor added.
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Indonesia to launch 13th economic package this month
Coordinating Economic Minister Darmin Nasution said on Wednesday that the government would release its 13th economic policy package in August, adding that the draft had been completed.
Darmin said the 13th package was largely an extension of the previous one, but would expand its focus beyond industry. The 12th package focused on small and medium enterprises.
"We are just waiting to schedule a meeting with the president," Darmin told reporters at his office. He refused to give the exact date the new policy package would come into effect.
The ministry team must meet with President Joko "Jokowi" Widodo one more time to finalize the details, Darmin said.