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View all search resultsEni reportedly plans to invest $10b in Kalimantan offshore gas project
The Italy-based multinational energy company has committed to investing US$10 billion in East Kalimantan's offshore gas sector, said Energy and Mineral Resources Minister Bahlil Lahadalia.
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Chevron Indonesia Company operates an offshore platform in Sepinggan field in Makassar Strait, 37 kilometers east of Balikpapan, East Kalimantan, on April 23, 2019. (JP/Novi Adri)
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ultinational energy company Eni has committed to investing US$10 billion in East Kalimantan's offshore gas sector, Energy and Mineral Resources Minister Bahlil Lahadalia said on Saturday.
The prospective investment by the Italy-based company, which targets the Jangkrik and Merakes offshore blocks in the Makassar Strait, is expected yield first output in 2027.
Eni’s operations are set to focus on increasing Indonesia’s natural gas output, positioning the archipelago as a key supplier in the global energy market amid shifting geopolitical dynamics.
“Eni’s presence will significantly strengthen our energy security and boost economic development in East Kalimantan,” Bahlil said at the Golkar Party Regional Conference in Samarinda, East Kalimantan, on Saturday, as reported by Tempo.
“This is a sign of confidence from European investors, even during a time of global uncertainty.”
Eni Indonesia did not immediately respond to The Jakarta Post's request for comment.
In 2017, the company began gas production at the Jangkrik field in East Kalimantan, delivering 450 million standard cubic feet per day through a floating production unit (FPU) and a dedicated 79-kilometer pipeline to the Bontang liquefied natural gas (LNG) plant.
