Eni Advances Gas Projects in Indonesia with Final Investment Decisions
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 5 days ago
0mins
Should l Buy E?
Source: seekingalpha
- Investment Decision: Eni announced final investment decisions to develop the Gendalo and Gandang gas fields (South Hub) and the Geng North and Gehem fields (North Hub) in Indonesia's East Kalimantan province, expected to deliver up to 2 Bcf/d of gas and 90K bbl/day of condensate, significantly enhancing the company's energy supply capabilities in the Asia-Pacific region.
- South Hub Development Plan: This plan involves drilling seven production wells at water depths of 1,000-1,800 meters and installing deepwater subsea production systems tied back to the Jangkrik FPU, which is expected to improve production efficiency and reduce operational costs, thereby enhancing the project's economic viability.
- North Hub Project Scale: The North Hub project will drill 16 production wells at depths of 1,700-2,000 meters and install subsea systems linked to a newly built FPSO capable of processing over 1 Bcf/day of gas and 90K bbl/day of condensate, with a storage capacity of 1.4 million barrels, further boosting the overall project capacity.
- Resource Reserves and Startup Timeline: The combined initial resource volumes for both projects amount to nearly 10 Tcf of gas and 550 million barrels of associated condensate, with Eni expecting both projects to commence operations in 2028, marking a significant strategic advancement in the company's global energy market positioning.
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Analyst Views on E
Wall Street analysts forecast E stock price to fall
3 Analyst Rating
1 Buy
2 Hold
0 Sell
Moderate Buy
Current: 54.540
Low
17.45
Averages
18.45
High
19.45
Current: 54.540
Low
17.45
Averages
18.45
High
19.45
About E
Eni SpA (Eni) is an Italy-based company engaged in the exploration, development and production of hydrocarbons, in the supply and marketing of gas, liquefied natural gas (LNG) and power, in the refining and marketing of petroleum products, in the production and marketing of basic petrochemicals, plastics and elastomers and in commodity trading. The Company's segments include Exploration & Production, Gas & Power, and Refining & Marketing. Its Exploration & Production segment engages in oil and natural gas exploration and field development and production, as well as LNG operations in over 40 countries, including Italy, Libya, Egypt, Norway, the United Kingdom, Angola, Congo, Nigeria, the United States, Kazakhstan, Algeria, Australia, Venezuela, Iraq, Ghana and Mozambique. Its Gas & Power segment engages in supply, trading and marketing of gas, LNG and electricity, international gas transport activities and commodity trading and derivatives.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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