The Ministry of Energy and Mineral Resources (ESDM) has made policy improvements since 2021 to draw the interest of investors in the Indonesian oil and gas .
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During a meeting with Indonesian President Joko Widod, Eni CEO Claudio Descalzi disclosed plans following significant milestones in 2023, notably the discovery of 5 Tcf of natural gas with the Geng North-1 well in the North Ganal PSC, the acquisition of the Indonesia Deepwater Development assets from Chevron, and the further consolidation of Eni’s position in most of the key exploration and production blocks of the Kutei basin following the acquisition of Neptune Energy.
Eni presented to the Widodo government its natural gas expansion plans for Indonesia and at the same time signed an agreement with the energy ministry for .