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Chevron Announces Sale of Geothermal Operations


Published Dec 24, 2016
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Chevron Corporation has announced that its wholly owned subsidiaries have entered into a sales and purchase agreement with Star Energy Consortium to sell Chevron’s Indonesian and Philippines Geothermal assets.

“These assets deliver reliable energy to support the needs of Asia-Pacific’s growing economies,” says Jay Johnson, executive vice president, Upstream, Chevron Corporation. “This sale is aligned with our strategy to maximise the value of our global upstream businesses through effective portfolio management.”

In Indonesia, Chevron subsidiaries operate the Darajat and Salak geothermal fields in West Java. In the Philippines, company subsidiaries have a 40% equity interest in the Philippine Geothermal Production Company, Inc., which operates the Tiwi and Mak-Ban geothermal power plants in Southern Luzon.

Tags: Chevron Corporation, Star Energy Consortium




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