Italian energy group announces big gas discovery in Indonesia
Italian energy group Eni on October 2 announced a big gas discovery in Indonesia, opening up an opportunity to strengthen its position in the Southeast Asian country, where it has been present since 2001.
Jakarta (VNA) – Italian energy group Eni on October 2 announced abig gas discovery in Indonesia, opening up an opportunity to strengthen its position inthe Southeast Asian country, where it has been present since 2001.
The discovery was from the Geng North-1 exploration welldrilled in the North Ganal PSC, about 85km off the coast of East Kalimantan.
Preliminary estimates indicate a total structure discoveredvolume of 5 trillion cubic feet (140 billion cu.m) of gas in place with acontent of condensate estimated up to 400 million barrels.
The ongoing exploration campaign is in line with Eni’sstrategy to shift its portfolio mix towards gas and liquefied natural gas(LNG), targeting 60% in 2030, and to increase its LNG equity portfolio.
Indonesia, and Southeast Asia in general, play a role inthis strategy, Eni said, adding its current production in the country was80,000 barrels of oil equivalent per day./.
Indonesia has the potential to become a country that has a strategic position to meet world gas needs, President of SPA for Asia Pacific Region ENI, Ciro Antonio Pagano, has said.
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Illustrative image (Photo: Reuters) 
