Eni engaged in slow shift towards gas
Eni banks on gas for transition future
The Italian major continues to reorientate its portfolio to focus on gas
Italy’s Eni has pursued an aggressive policy of portfolio optimisation recently, with a deal to acquire most of UK independent Neptune Energy and divestments in Congo-Brazzaville now being followed by the significant acquisition of Chevron’s Indonesian assets. The Chevron portfolio includes operatorship and majority stakes in the Ganal (62%), Rapak (62%) and Makassar Straits production-sharing contracts in the Kutei Basin, off East Kalimantan. Eni already had 20% stakes in the Ganal and Rapak blocks, so the deal is “an excellent fit”, the company said, adding the Neptune deal also included Indonesian assets. Eni stated that the Chevron deal “is an important step... to fast track the developm
Also in this section
27 September 2023
Regional industry body ANGEA remains bullish about Asia's adoption of gas and LNG, despite elevated prices and logistical challenges
26 September 2023
Half a century after the 1973 conflict, the world is dramatically different. But OPEC’s power remains
26 September 2023
Bottlenecks continue to constrain gas-rich Appalachia, and relief may not be in the pipeline
22 September 2023
Former executives and a successor company are accused of complicity in Sudanese war crimes in what is now South Sudan
