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

Oman Signs 10-Year LNG Supply Deal with Shell
04.17.2024 - NEWS
April 17, 2024 [Microsoft Start]- Oman LNG has signed a 10-year liquefied natural gas supply agre... Read More
Neuman & Esser to Build Green Hydrogen Plant in Chile
04.17.2024 - NEWS
April 17, 2024 [Gas Compression Magazine]- Neuman & Esser was awarded a contract from Empresa... Read More
Engie Buys Two Dutch Biogas Sites, Hunts for More
04.17.2024 - NEWS
April 17, 2024 [Reuters]- French energy company Engie (ENGIE.PA), opens new tab has acquired tw... Read More
Shell Named NanoVapor as Best Technology to Make a Tank Safe
04.17.2024 - NEWS
April 17, 2024 [Storage Terminals Magazine]- Shell Retail Engineering Network has recently implem... Read More