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Eni Awarded East Ganal Exploration Block in the Kutei Basin

Source: www.gulfoilandgas.com 5/2/2018, Location: Asia

Eni has been awarded 100% participating interest in the East Ganal deepwater exploration block in the Kutei Basin, in Indonesia. East Ganal is a new “gross split” PSC (Production Sharing Contract) covering an area of about 5,100 square kilometers and adjoins the Eni operated Muara Bakau and East Sepinggan PSCs, in the Makassar Strait offshore East Kalimantan.

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, and in the continuously growing gas and LNG market of the Asia Pacific region.

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 PSCs. This further development project, using existing Jangkrik and Bontang facilities, will allow an 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.

Eni has been operating in Indonesia since 2001 and now hold working interests in fourteen exploration and production assets.

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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