Eni: Potential of Merakes gas finding upgraded
Tuesday, March 17 2015 - 03:15 AM WIB
Italian oil and gas firm Eni SPA said it has completed post drilling studies on the Merakes-1 gas finding, located in the Indonesia deep offshore East Sepinggan Block, which indicates significant upside gas potential.
Eni is the operator of the East Sepinggan Block with an 85 percent interest, while the remaining 15 percent is held by Indonesian state-owned oil and gas firm PT Pertamina.
Eni said in a statement Tuesday that new studies upgrade the potential of Merakes from previously estimated 1.3 TCF up to 2 trillion cubic feet (Tcf) of gas in place. The well was drilled in October 2014 in 1,372 meters water depth, encountering a 60-meter section of high quality sandstones.
Eni said it will bring forward the appraisal program to evaluate the possible fast track development of the finding, optimizing synergies with the near Jangkrik field, also operated by Eni.
The East Sepinggan block is located offshore of East Kalimantan (Borneo), 170 kilometers south of Bontang LNG plant and just 35 kilometers south of Jangkrik field.
Eni has been operating in Indonesia since 2001 and currently holds a large portfolio of exploration, production and development assets which have an increasing importance in contributing to the overall growth of the company. Eni?s average equity production in the country amounts to 17,000 barrels of oil equivalent per day.
Editing by Reiner Simanjuntak