SKK Migas, Indonesia’s upstream regulator, expects Eni to takeover Chevron’s giant Indonesia Deepwater Development (IDD) during the first quarter 2021. If the move comes to pass, expect other potential buyers, that could include Pertamina, Sinopec, Neptune Energy and Saka Energi, to be in the new IDD mix.
Indonesia Deepwater Development
Upstream merger and acquisitions (M&A) deals are expected to rebound in Asia Pacific this year after plunging to their lowest level this century in 2020, when the pandemic and collapse in oil and gas prices killed activity.
Southeast Asia and Australia are set to take centre stage in the region’s upstream M&A activity as private equity companies sense a value opportunity.