Italian Eni wins new Indonesia block

Milan, August 26 - Neftegaz.RU. Eni (40% Operator) and its partners, Pertamina (30%) and Neptune (30%), have been awarded by the Ministry of Energy the West Ganal exploration block in the Kutei Basin, offshore Indonesia, as a result of the 2nd conventional oil & gas bidding round 2019.

West Ganal is a new Gross Split PSC (Production Sharing Contract) covering an area of about 1,129 sq. km adjoining the Eni operated Muara Bakau and East Sepinggan PSCs, in the Makassar Strait offshore East Kalimantan. This additional award reinforces the strategic cooperation in the Kutei Basin with Pertamina and Neptune, already partners in the producing Jangkrik field in Muara Bakau block.

The block incl. the Maha discovery with in place gas resources estimated in excess of 600 Bscf and further exploration potential, whose development and time-to-market will benefit from the proximity of the facilities of the Jangkrik field operated by Eni, accordingly to Eni's “near field” strategy that optimizes synergies with existing infrastructures.

Furthermore, this award expands Eni’s position and upstream activities in the East Kalimantan’s Kutei Basin, which is one of the most promising hydrocarbon provinces in Indonesia.

In the Muara Bakau PSC, Eni commenced production from the Jangkik deepwater field in May 2017. In April 2018, Eni was also granted the approval of the Plan of Development for the Merakes discovery located in East Sepinggan PSC.

This new project will allow a further increase in the availability and flexibility of gas supply both for the domestic market and for export, as well as strengthening Eni’s position in the LNG market in Asia-Pacific.