Jakarta seeks proposals from Chevron and Conoco

Jakarta

INDONESIA wants Chevron Corp and ConocoPhillips to submit proposals to renew their licences to operate oil and gas fields as the former Opec member seeks to reverse a decline in energy investments.

Energy and Mineral Resources Minister Ignasius Jonan asked Chevron executives last week to inform the ministry about the explorer's plans for Indonesian operations beyond 2021, he said in an interview. The government expects Chevron to make a proposal within this year, he said. Mr Jonan also told Conoco executives to prepare a proposal if they wished to seek an extension for a block set to expire in 2020.