(Finance) – The President of the Republic of Indonesia Joko Widodo met today in Jakarta with the CEO of Eni Claudio Descalzi to discuss ongoing activities in the country e to outline initiatives regarding energy transition and decarbonisation.
During the meeting – the note reports – Descalzi illustrated Eni’s plans in Indonesia following the important objectives achieved in 2023, in particular the discovery of over 140 billion cubic meters of gas with the Geng North-1 well in the North Ganal PSC, the acquisition of Indonesia Deepwater Development (IDD) assets from Chevron and the further consolidation of Eni’s position in most of the key exploration and production blocks of the Kutei basin, following the acquisition of Neptune.
The CEO illustrated i development plans for the IDD assets and the new Geng North production hub, which will be built in the East Kalimantan region. In particular, it highlighted how these activities will significantly increase the country’s gas potential, also in consideration of the significant near-field exploration potential in the blocks operated by Eni, at risk largely reduced following the Geng North discovery.
The new gas production hub of approximately 30 million cubic meters per day that will be built in the northern Kutei basin, as well as the plateau extension to over 20 million standard cubic meters per day in existing facilities in the southern basin, will allow Indonesia to significantly increase gas production, both for domestic use and for export. The new projects, together with the ongoing development of the East Merakes and Maha fields, will have a strong positive impact on local content and increase the use of available capacity at the Bontang LNG plant, in addition to the gas needed for domestic consumption .
During the meeting, the Ministry of Energy and Mineral Resources of the Republic of Indonesia and Eni signed a Memorandum of Understanding to cooperate in the areas of energy transition and decarbonisation. The memorandum of understanding will allow Eni to evaluate the possible production of agri-feedstock for Enilive’s biorefineries, mainly from agro-industrial and forestry residues. Eni will also analyze opportunities for carbon capture, use and storage (Carbon Capture Utilization and Storage) and energy efficiency, in order to reduce greenhouse gas emissions linked to upstream activities and hard-to-abate sectors. In the end, Eni will evaluate nature- and technology-based projects, including clean cooking initiatives, to offset residual emissions.