The $4.4-billion agreement will see the Italian super-major supply 1.4 million tonnes per year of LNG to Pertamina from 2017-2024.
Production will come from the Jangkrik Field Development Project, run by Eni through its local subsidiary, Eni Muara Bakau.
The government of Indonesia is trying to shift the country’s energy base from oil to natural gas. The Southeast Asian nation holds 2.9 tcm (102 tcf) of gas reserves, and is a major exporter of LNG.
Indonesia’s oil production has declined in recent years as fields mature and discoveries fall far from the consumer base in Jakarta.
Pertamina CEO Dwi Soetjipto said the LNG would be delivered via pipeline to the mining industry in East Kalimantan. If industry buyers fail to absorb the supply, the company will direct it towards exports.
Eni holds a 55-percent operating stake in the Muara Bakau concession, which it develops with partners Genie of France (formerly GDF Suez) and local company Saka Energi.
Singapore’s Seatrium has secured a topside integration project for the FPSO Errea Wittu from Offshore Frontier Solutions, a MODEC Group… Read More
The UK's hydrocarbons regulator has awarded 31 new exploration licences in the country's North Sea waters, Reuters reported on Friday Read More
ExxonMobil announced the closing of its USD 60-billion acquisition of Pioneer Natural Resources on Friday, a move that solidifies its… Read More
BP-Eni joint venture Azule Energy has entered a strategic farm-in agreement with Rhino Resources in Namibia's offshore Orange Basin, the… Read More
Africa-focused energy group Chariot has spudded the RZK-1 exploration well on the Gaufrette prospect at the Loukos Onshore licence in… Read More
Touchstone Exploration has acquired Trinidad-focused Trinity Exploration & Production in an all-shares deal, the Canadian upstream player said on Wednesday Read More
This website uses cookies.