Crucial milestone - CEO (Il Sole 24 Ore Radiocor) - Milan, 23 Aug - The Italian energy group Eni said that the Indonesian authorities have approved the plan of development (POD) of the Geng North (North Ganal PSC) and Gehem (Rapak PSC) fields.

The integrated development of the two fields will create a new production hub, called Northern Hub, in the Kutei Basin.

The Indonesian authorities have also approved the POD for Gendalo&Gandang fields (Ganal PSC).

Additionally, Eni has been awarded by the Indonesian authorities a 20-year extension of the IDD licences named Ganal and Rapak.

"The approval of the Northern Hub and Gendalo&Gandang plans of development by the Indonesian Authorities marks a crucial milestone towards the FID of both gas projects, in line with our decarbonization and energy security strategy. The establishment of a new production hub in the Kutei Basin represents a game changer for Eni in Indonesia," said Eni's CEO Claudio Descalzi.

Eni holds a 83.3% participating interest and operates the North Ganal Block - Geng North field, with Agra Energi Pte Ltd as partner holding the remaining 16.7%. Eni also holds 82% participating interest and operates the Ganal and Rapak Blocks, with Tip Top as a partner holding the remaining 18%.

"Eni is therefore set to establish a significant gas and condensates production of approximately 2 bcf/d of gas and 80,000 bopd of condensates in the East Kalimantan region, both for domestic and international market, leveraging synergies with existing facilities in the area, such as the Bontang LNG Plant and the Jangkrik Floating Production Unit (FPU)," the company added.

AAA-Web

(RADIOCOR) 23-08-24 11:53:35 (0223) 5 NNNN