Eni boosts Indonesia exposure with big gas discovery

Deceptichum , 8 months ago

The future is green, not gas.

Gas is a fossil fuel

FartsWithAnAccent , 8 months ago

That’s a lot of gas.

autotldr Bot , 8 months ago

This is the best summary I could come up with:

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MILAN, Oct 2 (Reuters) - Italian energy group Eni announced on Monday a big gas discovery in Indonesia, opening the door to a strengthening of its position in the Asian country, where it has been present since 2001 with a portfolio of exploration and production assets.

The group said the discovery was from the Geng North-1 exploration well drilled in the North Ganal PSC, about 85 kilometres (53 miles) off the coast of East Kalimantan.

Indonesia, and South-East Asia in general, play a role in this strategy, Eni said, adding its current production in the country was 80,000 barrels of oil equivalent per day.

The chairman of Indonesia’s upstream oil and gas regulator, SKK Migas, said in a statement that the country hoped Eni’s discovery would attract other international oil companies and added the regulator was coordinating with the group so the discovery could be monetised immediately.

The discovery opens the door to the creation of a new production hub to be tied to the Bontang LNG facilities on the coast of East Kalimantan, Eni said.

It is estimated that, in addition to Geng North, more than 5 tcf of gas in place are present in undeveloped discoveries within the area of interest, the Italian group said.

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