The assets of troubled upstream player Saka Energi could be put up for sale as part of an effort to resolve the heavily indebted company’s financial predicament amid a tussle between Indonesia’s state-owned enterprises (SOEs).
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.
