Eni sheds partial stakes in Indonesian gas assets as Pertamina and Medco bolster portfolios

Eni’s divestment move follows multi-trillion-cubic-feet gas discoveries, giving two regional firms direct stakes in fast-tracked gas developments.

Eni’s divestment move follows multi-trillion-cubic-feet gas discoveries, giving two regional firms direct stakes in fast-tracked gas developments.

2 minutes read LinkedIn X Email Jangkrik-01 Source: Eni Italian energy giant Eni has embarked on a divestment quest to offload partial interests in selected Indonesian upstream assets to national energy firm Pertamina and natural resources major Medco.

The European heavyweight will still maintain significant ownership and operational control in these assets.

Eni’s two binding agreements for the sale of interests in selected Indonesian upstream assets involve key producing fields and high-profile development hubs operated through Searah , the firm's joint venture with Petronas, allowing the Italian giant to monetize significant value from recent deepwater gas discoveries across the Kutei Basin while retaining strategic operations in the region.

The company will sell its 10% interest in the East Sepinggan , North Ganal , and Rapak production sharing contracts (PSCs) to Pertamina, including the producing Merakes and East Merakes gas fields, as well as Geng North–Gehem gas discoveries, which are currently being developed through the North Hub gas project, designated as a national strategic project.

3 min read On the other hand, Medco will acquire Eni’s 10% interest in the West Ganal , East Ganal , Ganal , and Muara Bakau PSCs, which entail the producing Jangkrik field , the Maha , Gendalo , and Gandang gas projects being executed as part of the South Hub project, and the recently announced Geliga giant gas discovery.

The completion of both transactions is subject to customary governmental and regulatory approvals.

Eni’s divestment move follows multi-trillion-cubic-feet gas discoveries, giving two regional firms direct stakes in fast-tracked gas developments.