• Most Popular
  • Most Shared

Eni says finds new oil, gas offshore Indonesia

Mon Apr 6, 2009 4:39am EDT

Stocks

   

MILAN, April 6 (Reuters) - Italy's biggest oil and gas group, Eni (ENI.MI), has made a new hydrocarbon discovery offshore Indonesia as it aims to boost activity in the region, Eni said in a statement on Monday.

Indonesia

"The Jangkrik discovery, drilled in 400 metre water depth, represents a significant success in Eni's exploration efforts in the Kutei Basin and further confirms the high potential of its portfolio in the area," said Eni, the operator of the Jangkrik structure located east of Kalimantan.

Eni said it planned to proceed with the appraisal of Jangkrik discovery and to assess the technical and commercial viability of a fast-track development of the new field.

Eni said it also participates in the development of the significant gas reserves located in the Rapak & Ganal blocks in the Kutei Basin.

In the nearby Tarakan Basin, Eni has in recent years made two other important hydrocarbon discoveries, Aster and Tulip, both of which are now in an advanced appraisal phase, it said.

Eni holds overall working interests in 11 permits in Indonesia and operates six of them. The offshore activities are located in the deep waters of the Tarakan and Kutei Basins and north of Sumatra Island.

Other activities are in the Mahakam River Delta, East Kalimantan, where Eni has an equity production of about 20,000 barrels of oil equivalent per day. (Writing by Svetlana Kovalyova, editing by Anthony Barker)



More from Reuters

Photo

Time Warner Cable, Fox at impasse; blackout looms

NEW YORK (Reuters) - About 13 million Time Warner Cable Inc subscribers were to lose most Fox programing at midnight on Thursday unless the cable service provider reached a last-minute deal to pay fees to News Corp to broadcast the shows.

A customer is served at a counter inside a foreign exchange store displaying a poster of various banknotes including the Chinese yuan or renminbi (RMB) in Hong Kong November 20, 2009. REUTERS/Bobby Yip
OUTLOOK 2010:

Be careful what you wish for

Pressure on China to loosen its grip on the yuan will continue but the U.S. should tread carefully. Here are five world market issues to watch.  Full Article 

Clients work out on machines at the Bally Total Fitness facility in Arvada, Colorado June 15, 2009.  REUTERS/Rick Wilking

Get real with resolutions

We make them and we break them: The secret to keeping them is to avoid the impossible dream.  Full Article