Eni S.p.A. has entered into two agreements for the sale of shares in oil and gas assets in Indonesia. This is reported in a press release from Eni.
The deal includes the sale of 10% in the East Sepinggan, North Ganal and Rapak agreements to national energy company Pertamina, which plays a strategic role in East Kalimantan's energy infrastructure. The assets include the Merakes and East Merakes gas fields, as well as Geng North-Gehem under the North Hub gas project.
In addition, Eni will sell 10% of the West Ganal, East Ganal, Ganal and Muara Bakau agreements to the Medco energy company. Assets include the Jangkrik, Maha, Gendalo and Gandang fields under the South Hub project and the recently discovered giant Geliga gas field with 10 trillion cubic meters of gas.The projects are managed by Searah, an independent 50/50 joint venture between Eni and Petronas. Together with the investment decisions on the North Hub and South Hub projects, the assets attracted great interest among investors. The completion of both transactions is subject to regulatory approval and the Government of Indonesia.
Eni S.p.A. is an Italian multinational energy company and one of the largest oil companies in the world with a market capitalization of 40 billion euros. The main production regions include Africa and Kazakhstan, while the main sales markets are Italy and other European countries. The headquarters is located in San Donato Milanese (Milan).
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