IDD Phase II Project Delayed until Early 2024

By Editorial Team 03/04/2023
Summary

The Upstream Oil and Gas Special Regulatory Task Force (SKK Migas) stated that the Phase II of the Indonesia Deepwater Development (IDD) project, located in the Kutai Basin, East Kalimantan, would likely start in 2024, one year later from the initial target of early 2023.

SKK Migas head Dwi Soetjipto confirmed that ENI is still finalizing the acquisition process. After securing Chevron's stake in IDD, the Italian energy company will become the project operator with a majority shareholding of 62 percent.

"The transition takes time due to the legal analysis and so on. However, based on ENI and Chevron's reports, the process is going well so far," he said on Friday.

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