Indonesia Agrees to Chevron’s Terms for Oil Recovery Project

Indonesia’s government has agreed to terms proposed by Chevron Pacific Indonesia (CPI) to carry out a US$200 million enhanced oil recovery project (EOR) in Riau, central Sumatra.

The government is concerned with preventing further decline in the country’s crude oil output; therefore, it agreed to the term that will give Chevron a larger-than-normal share of the production, head of the Upstream Oil and Gas Regulatory Agency (BP Migas) Kardaya Warnika said.

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