ENI Eni Spa

   By David Sachs 
 

Eni said Tuesday that it will acquire Chevron's assets in Indonesia, including operations, for an undisclosed sum.

The Italian energy company said it will buy interests in three subsidiaries of the American oil and gas corporation in Indonesia.

Eni will buy Chevron's 62% interest in Ganal PSC, its 62% interest in Rapak PSC and its 72% interest in Makassar Straits PSC, it said. The Italian company already holds a 20% interest in both Ganal and in Rapak.

Eni said the deal is an important step in its bid to fast-track natural-gas development in the country.

The deal is subject to customary regulatory review.

Write to David Sachs at david.sachs@wsj.com

(END) Dow Jones Newswires

July 25, 2023 05:51 ET (09:51 GMT)

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