Chevron's Indonesia Deepwater Development Gas Project Faces Delay

Chevron's Indonesia Deepwater Development (IDD) gas project is likely to be delayed by up to 18 months, news agency Reuters reported Thursday citing country's oil and gas regulator, SKKMigas.

"The IDD project will be delayed and we're currently taking steps to alleviate this," SKKMigas chief Johannes Widjonarko told Reuters.

The current schedule for the project to go into production is 2016, he said.

A source at SKKMigas told the news agency that the startup date maybe pushed back pending completion of a tender for the project's floating production units.

The project is projected to produce 1.1 billion cubic feet of natural gas and 31,000 barrels of condensate per day.

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