Reuters: Indonesia says Chevron gas project set back by up to 2 years

The target for full operation of the Indonesia Deepwater Development (IDD) gas project has been delayed by up to two years to around 2020, a senior official said, reducing the country's prospects of remaining a major gas exporter.

The delay to the $12 billion ultra-deepwater IDD project comes as Indonesia scales back exports of liquefied natural gas and looks to future imports to help meet rapidly growing domestic demand. State energy firm Pertamina has signed deals to secure imports of LNG from the United States from 2018.

Chevron Corp said earlier this month it had made a final investment decision to go ahead with the first stage of the IDD project - the Bangka field - but delayed a decision on the second stage - the Gendalo and Gehem fields - while it reassessed its development plans.

The project includes the Bangka, Gendalo, Gehem, Gandang and Maha fields off eastern Borneo. MORE