Chevron Corporation鈥檚 wholly-owned subsidiaries entered into a sales and purchase agreement with Star Energy Consortium to sell Chevron鈥檚 Indonesian and Philippines geothermal operations, company said on Friday.
鈥淭hese assets deliver reliable energy to support the needs of Asia-Pacific鈥檚 growing economies,鈥� said Jay Johnson, executive vice president, upstream, Chevron Corporation.
鈥淭his sale is aligned with our strategy to maximize the value of our global upstream businesses through effective portfolio management," Johnson added.
In Indonesia, Chevron subsidiaries operate the Darajat and Salak geothermal fields in West Java.
In the Philippines, company subsidiaries have a 40 percent equity interest in the Philippine Geothermal Production Company, Inc., which operates the Tiwi and Mak-Ban geothermal power plants in Southern Luzon.
By Zeynep Beyza Kilic
Anadolu Agency
zeynep.karabay@aa.com.tr
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