Eni Discovers Large Gas Field in Indonesia
Italy’s Eni has discovered a large gas field in the Geng North-1 exploration well in Indonesia, with the volume of gas discovered tentatively amounting to 5 trillion cubic feet, the company said in a press release.
“Eni announces the discovery of a large gas field in the Geng North-1 exploration well drilled in North Ganale, approximately 85 kilometers from East Kalimantan in Indonesia,” the statement said.
Eni North Ganal Limited, owning 50.22% of the shares, manages the block, while Neptune Energy North Ganal BV and Agra Energi I Pte Ltd are partners holding the remaining 38.04% and 11.74% respectively.
Preliminary estimates put the total volume of gas discovered at 5 trillion cubic feet, with condensate content estimated at up to 400 million barrels.
The well’s productivity is estimated at 80-100 million cubic feet per day and about 5-6 thousand barrels of condensate. It is estimated that more than 5 trillion cubic feet of gas are present in undeveloped fields in the area of interest.
Eni is an energy company operating in 62 countries and employing approximately 32 thousand people. Engaged in exploration, development and production of oil and gas; processing, marketing, trading and transportation of raw materials, as well as renewable energy sources.
