After the exit from Makassar and Rokan assets, Chevron Corp. is now also considering pulling out of the long-delayed, multibillion-dollar second phase Indonesian Deepwater Development (IDD-II) project in East Kalimantan.

The San Ramon, Calif.-based oil and gas major is contemplating to sell its holdings in IDD-II project to focus on better business opportunities. “The [IDD-II] project was not able to compete for capital in the company's global portfolio,” said Sonita Purnomo, manager of corporate communications at Chevron’s Indonesian subsidiary, Chevron Pacific Indonesia.

“We have received approval from [regulator] SKK Migas (Special Task Force for Upstream Oil and Gas Business Activities) to open IDD project data room in an effort to find a buyer,” the manager added.

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