press release Chevron Announces First Gas from the Bangka Project in East Kalimantan

Jakarta, Indonesia, August 31, 2016 - Chevron Indonesia Company Ltd. announced today that it has achieved natural gas production from the Bangka Field Development Project, the first stage of the Chevron operated Indonesia Deepwater Development (IDD) Project in East Kalimantan.

"First gas for the Bangka Project is a significant milestone and highlights Chevron’s commitment to continue supporting the government’s energy goals and delivering energy to Indonesia safely, efficiently and reliably,” said Chuck Taylor, Managing Director Chevron IndoAsia Business Unit.

“The project represents Chevron’s commitment to bring global capabilities and advanced technology to Indonesia and applies best practices and expertise from our deepwater developments around the world,” Taylor said.

The Bangka project has a design capacity of 110 million cubic feet of natural gas and 4,000 barrels of condensate per day. Chevron has a 62 percent interest in the Bangka project with the other contributing joint venture participants being Eni with a 20 percent interest and Tip Top with an 18 percent interest. A final investment decision was reached in 2014, following government approvals. Chevron began drilling the development wells in the second half of 2014.

Taylor said, “For more than 90 years, Chevron has been a major partner in meeting the energy needs of Indonesia, driving economic growth and supporting local communities in East Kalimantan and the other areas where we operate in Indonesia.”

Chevron is one of the world's leading integrated energy companies and through its Indonesian subsidiaries, has been present in Indonesia for 92 years. With the ingenuity and commitment of highly skilled and dedicated employees,Chevron Indonesia leads as one of Indonesia's largest producer of crude oil. From our onshore oil fields in Riau, Sumatra and our offshore fields in East Kalimantan, we have produced more than 12 billion barrels of oil to meet the energy needs of Indonesia's growing economy. In operating the oil and gas projects, Chevron and its joint venture participants work under the SKK Migas’ monitoring and control based on a Production Sharing Contract (PSC). In addition, Chevron is the one of leading geothermal producer in Indonesia with two geothermal projects in West Java, Darajat and Salak. Further information about Chevron in Indonesia is available at indonesia.chevron.com.

Contact:
Danya Dewanti
email:danya.dewanti@chevron.com
phone:+62811894229

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