Neptune acquiring interests offshore Indonesia

Neptune Energy has agreed to acquire interests from Eni in the Kutei basin production sharing contracts (PSC) offshore Indonesia.

Neptune will acquire a 20% working interest in the East Sepinggan PSC and a 30% working interest in the East Ganal PSC.

The East Sepinggan PSC includes the fast-tracked Merakes development and the recent Merakes East discovery.

Merakes is being developed as a subsea tieback to the Eni-operated Jangkrik FPU in the Maura Bakau PSC, in which Neptune has a 33.3% working interest.

The East Ganal PSC provides longer-term exploration prospects in the Kutei basin, Neptune said.

The transaction is subject to customary regulatory approvals, with completion expected in the fourth quarter of 2019.

Source: Offshore Magazine