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ENI wins Indonesian oil block
Italian oil and gas giant Eni has won an oil and gas exploration block in Indonesia's first international bid round of 2012.
The East Sepinggan block, situated in the Kutei basin and covering around 2913km², is 170km south east of the Bontang LNG processing facility.
The work programme on the block, in which Eni holds a 100 per cent interest, will include a full 3D seismic survey of the area and the drilling of one well, to be completed within the next three years.
The award follows the signing in November 2011 of the North Ganal PSC (Kutei Basin) and the Arguni I PSC (Bintuni Basin, West Papua).
Eni has been developing the Jangkrik deep offshore gas field and appraising the Jangkrik North East discovery, near the East Sepinggan block, aiming to take advantage of a newly planned production hub.
The Rome-based company has been operating in Indonesia since 2001 and currently owns a large and growing portfolio of assets.