Eni has expanded its position in East Kalimantan’s Kutei Basin in Indonesia after being awarded 100% interest in the East Ganal deepwater exploration block.
Covering about 5,100 sq km (1,969 sq miles), the block is a new “gross split” production-sharing contract (PSC) and adjoins the Eni-operated Muara Bakau and East Sepinggan PSCs in the Makassar Strait offshore East Kalimantan, Eni said in a news release.
The company also said its plan of development for the Merakes discovery in the East Sepinggan PSCs was approved in April. “This further development project, using existing Jangkrik and Bontang facilities, will allow an increase in the availability and flexibility of gas supply both for the domestic market and for export, as well as strengthening Eni’s position in the LNG market in Asia,” Eni said.
Saudi Energy Minister Khalid al-Falih said on Sunday there was consensus among OPEC and allied oil producers to drive down crude inventories "gently" but his country would remain responsive to the needs of what he called a fragile market.
A global deal on oil production led by Russia and Saudi Arabia could be extended to the end of 2019, Saudi Energy Minister Khalid al-Falih told RIA news agency on April 30, without specifying whether or how much output levels could change.
Saudi Energy Minister Khalid al-Falih said consensus was emerging among the OPEC+ group of oil producers to continue working towards oil market stability in the second half of the year, the Saudi-owned Arab News newspaper reported on Monday.