Chevron set up new unit for RI<\/p>\n
Leony Aurora, The Jakarta Post, Jakarta<\/p>\n
Following the recent merger of U.S. energy giants Unocal and
\nChevron, the company plans to establish a new business unit to
\ntake charge of its subsidiaries working in the upstream and
\ngeothermal sectors in Indonesia and the Philippines.<\/p>\n
The new unit will be called Chevron IndoAsia, said Wahyudi
\nYudiana Ardiwinata, the president director of PT Caltex Pacific
\nIndonesia (CPI) -- a Chevron subsidiary after the merger with
\nCaltex -- on Tuesday.<\/p>\n
\"We have started the preparations and expect the business unit
\nwill be established this year,\" he said. The downstream
\nbusinesses, such as Caltex Oil Indonesia, which sells lubricants,
\nwould not be included in IndoAsia.<\/p>\n
Unocal, the ninth-largest U.S. oil company, on July 20
\naccepted an improved takeover bid by Chevron on July 20. The bid
\nwas worth US$17.1 billion, and followed the rejection of a higher
\nbut politically controversial bid from state-owned China National
\nOffshore Oil Corp. (CNOOC).<\/p>\n
Yudiana said there were no plans to merge Chevron and Unocal's
\nsubsidiaries in Indonesia.<\/p>\n
\"The companies' core businesses are different, with CPI
\nconcentrating on upstream onshore activities and Unocal operating
\nonshore and in the LNG (liquefied natural gas) business,\" he
\nsaid.<\/p>\n
The subsidiaries would be able to share services with one
\nanother under the IndoAsia umbrella, he added.<\/p>\n
CPI is the largest oil producer in Indonesia, producing
\n478,000 barrels per day at present, roughly half of the country's
\ntotal oil output, from its wells across Riau province.<\/p>\n
ChevronTexaco Energy Indonesia Ltd. operates the Darajat
\ngeothermal power-generating operations in West Java.<\/p>\n
Unocal, according to its website, has interests in 10
\nproduction sharing areas in Indonesia, including the deepwater
\nWest Seno field in the Makassar strait. It also operates the
\nAttaka field, which supplies gas to the Badak LNG plant in
\nBontang, East Kalimantan.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/chevron-set-up-new-unit-for-ri-1447893297",
"image": ""
},
"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
}