Field Development

Eni, Neptune closing on two gas field developments offshore Indonesia

Nov. 17, 2022

Neptune Energy and operator Eni are working on approvals for the Maha unitization agreement and Merakes East gas field development plan, both in the eastern Kutei Basin offshore Indonesia.

Working with its partners, Neptune produces LNG for export to the Indonesia region and gas for the domestic market to help meet the country’s growing energy needs.

Offshore staff

The Jangkrik and Jangkrik North East fields are part of the Muara Bakau production sharing contract, covering more than 1,000 sq km of the eastern part of the Kutei Basin.

LONDON —Neptune Energy and operator Eni are working on approvals for the Maha unitization agreement and Merakes East gas field development plan, both in the eastern Kutei Basin offshore Indonesia.

The Maha plan of development should secure government approval in 2023, with development of the two fields helping to sustain high capacity on the Jangkrik FPU.

Negotiations are also underway for a rig sharing agreement for the Geng North exploration well, due to spud in mid-2023.

To further consolidate production in 2023, a three-well sidetrack program has started at the Jangkrik Field, with the Jangkrik-12 sidetrack brought onstream in October. The Merakes-7 sidetrack, currently drilling, should start up in early December, with the Merakes-6 sidetrack set to come online in early 2023.

Offshore northern Australia, Neptune is pursuing commercial opportunities for a potential development of the Petrel gas field. Pricing remains strong for the East Coast and North Territories gas markets, with various parties showing interest in Petrel now that older fields in the area are in decline.

An ROV survey of the Petrel wells is scheduled for this month.

Finally, Neptune expects to drill the Yakoot prospect early next year in the North West El Amal concession in the Gulf of Suez offshore Egypt.

11.17.2022