Eni SpA Reports Success Drilling in Muara Bakau, Kalimantan

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Friday, 17 December 2010 12:44

Theindonesiatoday.com - Italian biggest oil and natural gas company Eni SpA reported that it has successfully drilled the Jangkrik 3 well in the offshore of Muara Bakau, East Kalimantan. The three wells confirmed Jangkrik field has an estimated oil reserve of 1.4 trillion cubic feet, or about 250 million barrels oil.

Jangkrik 3, drilled some 70 Km off the Eastern Borneo coast at a water depth of 416 meters, has reached a total depth of 2,849 meters encountering more than 60 meters net gas pay in excellent quality reservoir sands of Pliocene age. Further exploration activities are planned in 2011 in nearby areas.

The Rome-based oil company holds 55% share in the block, with its partner GDF SUEZ holds the rest 45%. The JV has begun studies and will be routed to the nearby Bontang LNG Plant, where Eni holds spare processing capacity.

Other activities also located in the Mahakam River Delta, East Kalimantan where Eni has an equity production of approximately 20,000 boed in this area. Eni recently has been awarded an interest in Sanga Sanga CBM, a new coal-bed methane production sharing contract (PSC), through its operated joint venture affiliate VICO CBM Limited

The JV was made jointly between Eni (50%) and BP Petroleum (50%). If successful, the coal-bed methane coming from Sanga Sanga would be liquefied at the Bontang plant, representing the first LNG facility to be supplied with CBM. (Theindonesiatoday.com)

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