By Agustinas Beo Da Costa and Fransiska Nangoy
JAKARTA, Sept 30 (Reuters) – Italy’s Eni ENI.MI is expected to take over the Indonesian Deepwater Development (IDD) project as operator Chevron CVX.N sells its interest in the gas venture, the chairman of the country’s upstream oil and gas regulator said on Wednesday.
Chevron confirmed in January its plan to sell its 62% interest in IDD project as the company makes global changes to cut costs and streamline operations.
Eni is already a partner in the project, along with China’s Sinopec.
SKK Migas chairman Dwi Soetjipto told lawmakers that discussions were at the “finalisation process”.
“There are many positive aspect to Eni replacing Chevron, such as reducing the size of investment to production facilities and (IDD) can be connected to Eni’s Jangkrik gas field,” he said.
Eni did not immediately respond to a request for comment.
Chevron declined to give details