Eni to sell 20% stake in East Sepinggan area offshore Indonesia to Neptune Energy

Eni is to sell a 20% participating interest in the East Sepinggan area, offshore East Kalimantan in Indonesia, to Neptune Energy. The sale includes the Merakes development and Merakes East discovery.

The two companies are already partners in the Muara Bakau area, which includes the Jangkrik field, located in the Kutei Basin, offshore East Kalimantan, where Eni is the joint venture operator with a 55% participating interest share.

The Merakes development project will be connected to the Jangkrik floating production unit (FPU), with gas production shipped to the Bontang LNG plant.