Advertisement
What really powers the cloud? Behind every Google search, A...
A lot of what defines a home isn’t visible at handover. I...
Private equity has played a significant role in shaping Indi...
Luxury real estate is one of the most talked-about segments ...
Airports play a much bigger role than just enabling travel -...
Searah, the joint venture between Italy's Eni and Malaysia's Petronas, has begun constructing a Floating Production, Storage and Offloading (FPSO) vessel for its USD 11.8 billion North Hub gas project in Indonesia. The facility will process production from the Geng North and Gehem gas fields in the Kutai Basin. The project is expected to begin production in 2028, with a planned output of 1 billion cubic feet of gas and 80,000 barrels of condensate per day. Around USD 2.9 billion has been allocated for the FPSO's development.
Searah, the joint venture energy company formed by Italy's Eni and Malaysia's Petronas, has started construction of a Floating Production, Storage and Offloading (FPSO) vessel for its USD 11.8 billion North Hub gas project in Indonesia. The development marks a key milestone in one of the country's major upstream natural gas projects aimed at increasing future energy production.
The company held the first steel-cutting ceremony in recent days to officially begin construction of the FPSO vessel, according to Indonesia's Ministry of Energy and Mineral Resources. The floating facility will serve as the central processing hub for production from 16 wells located across the Geng North and Gehem gas fields.
The Geng North and Gehem fields form part of the North Hub project in Indonesia's offshore Kutai Basin, located off the island of Borneo. The Indonesian government said the project remains on track to begin production in 2028.
Once operational, the project is expected to produce up to 1 billion cubic feet of natural gas per day along with 80,000 barrels of condensate per day by the fourth quarter of 2028. The development is expected to strengthen Indonesia's gas production capacity and support the country's long-term energy supply plans.
According to the Ministry of Energy and Mineral Resources, approximately USD 2.9 billion of the project's total USD 11.8 billion investment has been earmarked for the development of the FPSO. The floating facility will play a critical role in processing and handling gas production from the offshore fields before it is transported for further use.
Djoko Siswanto, head of Indonesia's upstream oil and gas regulator SKK Migas, said the FPSO represents a significant component of the overall investment planned for the North Hub project.
An executive of Eni North Ganal Ltd, Mirko Araldi, said the start of construction reflected the company's continued confidence in Indonesia's energy sector and reinforced its long-term commitment to investing and creating value in the country.
The North Hub project is among several large-scale upstream oil and gas developments being advanced by Indonesia as it seeks to increase domestic hydrocarbon production, attract fresh investment and strengthen energy security. The government has been encouraging international energy companies to accelerate strategic projects to help meet its long-term production targets.
Source Reuters
Advertisement
Facebook
Whatsapp
