Eni to Acquire Chevron’s Stakes in Indonesian Offshore Assets
07.27.2023 By TankTerminals.com News - NEWS

July 27, 2023 [Offshore Energy]- Italian company Eni has agreed to acquire stakes in the Ganal production-sharing contract (PSC), Rapak PSC and Makassar Straits PSC in the Kutei Basin, offshore East Kalimantan, Indonesia, from US-based Chevron.

 

Currently, Chevron owns a 62% stake in the Ganal PSC and Rapak PSC, and 72% in the Makassar Straits PSC. Eni owns a 20% stake in the Ganal and Rapak Blocks.

Eni said the acquisition marks an important step, “particularly for the opportunity” to advance the Gendalo and Gandang gas project development.

Financial details of the deal were undisclosed.

With estimated natural gas reserves of approximately two trillion cubic feet, the Gendalo and Gandang project forms part of the Indonesia Deepwater Development (IDD) in the Ganal PSC, close to the Jangkrik floating production unit.

In a press statement, Eni said: “This is in addition to the producing Bangka gas field, the Gehem and Ranggas discoveries and the significant exploration potential also included in the northern part of the asset, which therefore represent a further relevant consolidation for Eni operations in the East Kalimantan area.”

Eni noted that the acquisition will allow it to accelerate the development of the IDD project and complies with its energy transition strategy, which features gas and liquefied natural gas as key elements.

The transaction is subject to the customary governmental and regulatory approvals.

Eni aims to increase the natural gas production share to 60% by 2030. In Indonesia, Eni’s current net production stands at approximately 80 thousand barrels of oil equivalent per day.

Pro Trial: Access 12,600 Tank Terminal and Production Facilities

12,600 tank storage and production facilities as per the date of this article. Click on the button and register to get instant access to actionable tank storage industry data

First Oil at Shell Brasil FPSO
11.05.2024 - NEWS
November 05, 2024 [Tank Storage Magazine]- Shell Brasil has announced the start of production of ... Read More
Maersk Enters Long-Term Green Methanol Agreement with LONGi to Lower Fleet Emissions
11.05.2024 - NEWS
November 05, 2024 [Chemanalyst]- Maersk has secured a long-term bio-methanol offtake agreement wi... Read More
JERA Finalises Major Australian Acquisition of 15.1% Participating Interest in Woodside Energy’s Scarborough Gas Field Project
11.05.2024 - NEWS
November 05, 2024 [Jera]- JERA Co., Inc. (JERA), a global energy company and Japan’s largest pr... Read More
INEOS Announces Closure of INEOS ABS Facility
11.05.2024 - NEWS
November 05, 2024 [INEOS Styrolution]- INEOS has today announced its decision to permanently clos... Read More