Chevron said it has entered into a sales and purchase agreement with Star Energy Consortium to sell its Indonesian and Philippines goethermal assets.
In Indonesia, Chevron subsidiaries operate the Darajat and Salak fields in West Java.
In the Philippines, the subsidiaries have a 40% equity interest in the Philippine Geothermal production company.
It operated the Tiwi and Mak-Ban geothermal power plants in Southern Luzon.
Jay Johnson, executive vice president of Upstream, for Chevron said:“These assets deliver reliable energy to support the needs of Asia-Pacific’s growing economies.
“This sale is aligned with our strategy to maximize the value of our global upstream businesses through effective portfolio management.”
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