ENI still looking for buyers for its JAU gas
Monday, June 24 2013 - 07:32 AM WIB
Italian oil and gas firm ENI SPa has yet to find the buyer of gas from its Jambu Air Utara (JAU) field within the Krueng Mane block in Aceh, an official at the Ministry of Energy and Mineral Resources said.
Naryanto Wagimin, Upstream Director, said no buyer has been found so far because of the estimated high price of the gas from the field.
Naryanto estimated the price would have to hover around US$10 per MMbtu to make the development feasible. There had been talks with potential buyers such as state utility firm PT PLN and fertilizer producer PIM, but they have failed to reach agreement so far.
Gas production from the field is estimated at between 200 mmscfd and 250 mmscfd.
Editing by Dadan Wijaksana