Head of Upstream Oil and Gas Regulatory Task Force (SKK Migas), Dwi Soetjipto, says that Spanish oil giant, Repsol, remains committed to continuing upstream oil and gas investments in Indonesia.
Dwi dismissed speculations about Repsol’s potential divestment of their participating interests (PI) in the Corridor and Sakakemang Blocks. Reports surfaced regarding Repsol’s intention to divest non-competitive oil assets in several countries, aligning with their business strategy to rotate non-performing assets in their business portfolio.
Repsol had previously divested its oil assets in Malaysia, Vietnam, and Ecuador in 2021. Additionally, divestments in Russia and Canada occurred in 2022 and 2023, respectively.
“As of today, we have not received any information regarding Repsol’s divestment plans,” Dwi said as quoted by Bisnis.com on Monday, May 6, 2024.
On the contrary, Dwi said that Repsol has proceeded with the development of the Sakakemang Block after the field’s development plan (PoD) was approved earlier this year.
“For the Sakakemang Field development project, we are monitoring and still following the revised PoD,” he said.
Repsol Indonesia’s Stakeholder Relations Manager, Amir Faisal Jindan, said that Repsol has no plans to divest assets in Indonesia. He said that Repsol is currently finalizing investments for the development of the Kaliberau Dalam Field in the Sakakemang Block. He noted that Repsol has coordinated with SKK Migas for the tender of the front-end engineering design (FEED). “Repsol is not divesting anything in Indonesia,” he said.
