ENI Brings Investment Up To 16 Billion US Dollars, SKK Migas Gives Project Details

President Joko Widodo met ENI CEO Claudio Descalzi. (Doc. ENI)

JAKARTA - The Italian oil and gas giant, ENI, is known to have gone before President Joko Widodo regarding an investment plan of US$16 billion in the Indonesian oil and gas field.

Head of the Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas) Dwi Soetjipto revealed this when met at the Ministry of Energy and Mineral Resources (ESDM) Building. According to him, the investment will be used to finance a number of oil and gas projects that are being worked on by ENI.

Dwi detailed that a number of these projects include developing existing projects in Jangkrik Field in order to maintain the production rate and reduce the decline by installing floating processing units (FPU) connecting 10 underwater wells.

Furthermore, said Dwi, the development of the Maha-2 project, the development of the North and Indonesia Deepwater Development (IDD) Gang Project.

"And then explorations there. They are now seeing great potential around the North Gang and IDD in Kutai Basin," Dwi told the media quoted on Saturday, February 3.

According to him, ENI sees that there is still a lot of great potential that can be worked on, especially since the North Gang is a gas field that is included in the giant findings during 2023.

"It's still big according to their perspectives, so they provide funds and prepare for the long term. Now only 4 projects are running plus exploration and of course they have confidence and exploration is optimistic to find new reserves," explained Dwi.

Furthermore, he said, ENI is also rumored to be increasing the amount and amount of investment to work on a number of projects related to decarbonation.

Previously, Minister of Energy and Mineral Resources (ESDM) Arifin Tasrif admitted that he had just accompanied an oil and gas company from Italy, ENI. to meet President Joko Widodo (Jokowi) at the Presidential Palace.

During the meeting, Arifin said that ENI would invest USD 16 billion which would be used to increase domestic gas production.

"Yes, accompany ENI. The development of ENI will invest 16 billion US dollars in Indonesia to increase gas production," Arifin told the media at the State Palace Complex, Friday, February 2.

Arifin added that one of the projects that will be carried out by ENI is the oil and gas project in East Kalimantan which is the result of the acquisition of Neptune and the development of Indonesia Deepwater Development (IDD) which has been acquired from Chevron.