(CercleFinance.com) – Eni announces a significant gas discovery from the Geng North-1 exploration well drilled in the Ganal North PSC, approximately 85 km off the coast of East Kalimantan in Indonesia.
Preliminary estimates indicate a total discovered structure with a volume of 5 trillion cubic feet (Tcf) of gas.
‘The current exploration campaign, as well as recent acquisitions, are part of Eni’s energy transition strategy aimed at gradually reorienting its portfolio towards gas and LNG, with a target of 60% in 2030, and to increase its LNG stock portfolio’ indicates the group.
Indonesia and Southeast Asia in general play an important role in this strategy.
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