Indonesia’s Energy and Mineral Resources Ministry has entered into a memorandum of understanding (MoU) with Italian energy giant Eni [ENI:IM] to expedite the nation’s decarbonization efforts, as reported by Reuters on February 5. The agreement encompasses the development of bio-feedstock for fuels, initiatives for energy transition, and potential projects related to carbon capture. The collaboration is expected to enhance cooperation between Eni and Indonesia, contributing to the country’s goals in decarbonization. During the signing ceremony, Energy Minister Arifin Tasrif expressed optimism about Eni’s support in advancing Indonesia’s decarbonization programs.

Eni’s Chief Executive Claudio Descalzi engaged in discussions with Indonesia’s President Joko Widodo, highlighting the company’s recent upstream discovery at Geng North-1, an exploration well in the North Ganal off Indonesia. Eni’s strategic acquisitions, including Indonesia Deepwater Development (IDD) assets from Chevron and Neptune Energy, have positioned the company to significantly increase gas production in Indonesia. Plans for the development of the IDD assets and the establishment of a new production hub in the East Kalimantan region were outlined by Eni CEO during the meeting, indicating the potential for substantial growth in Indonesia’s gas production for both domestic consumption and export, driven by recent discoveries and strategic acquisitions.

Sources:

https://www.reuters.com/business/energy/indonesia-teams-up-with-italys-eni-decarbonisation-2024-02-02/