After IDD Acquired By ENI, Director General Of Oil And Gas Ensures Development Continues

JAKARTA - Director General of Oil and Gas of the Ministry of Energy and Mineral Resources Tutuka Ariadji revealed that investment in the development of the deep water giant field project continues.

"This indicates that investment in Indonesia is still attractive, including for Multinational Oil Company," said Tutuka in his statement, Thursday, July 27.

The statement was made in response to the signing of the Interes Participation Agreement for the Musela Working Area Between Shell, Pertamina, and Petronas, as well as the Application Agreement for Interes Participation in the IDD (Ganal & Rapak) Working Area between Chevron and ENI.

The Application Agreement for Interes Participation of the IDD (Ganal and Rapak) Working Area between Chevron and ENI took place in London, Tuesday, July 25.

The agreement was signed by the President Director of ENI Lasom PLC Francesco Pagano and Chevron's Principal of Corporate Negotiator Cathy Cooper, witnessed virtually by the Minister of Energy and Mineral Resources, Director General of Oil and Gas and Head of SKK Migas.

Tutuka explained, with ENI acquiring Chevron's assets in Indonesia, it was possible for ENI to accelerate the development of IDD projects, take advantage of its strong presence in the East Kalimantan area as well as synergies with Jangkrik infrastructure operated by ENI, the existing Bontang LNG facility and the domestic gas market.

"It is hoped that it can support to continue to develop potential oil and gas fields with the integrated development scheme owned by ENI in East Kalimantan," concluded Tutuka.