Eni of Italy said it has completed post drilling studies on the Merakes-1 gas finding, located in the Indonesia deep offshore East Sepinggan Block, which indicates significant upside gas potential.
Eni is the operator of the East Sepinggan Block with an 85% interest.
The new studies upgrade the potential of Merakes from previously estimated 1.3 TCF up to 2 trillion cubic feet (Tcf) of gas in place, Eni said in a statement on Monday.
The well was drilled in October 2014 in 1,372 metres water depth, encountering a 60 meter section of high quality sandstones. Eni will bring forward the appraisal programme to evaluate the possible fast track development of the finding, optimizing synergies with the near Jangkrik field, also operated by Eni.
The East Sepinggan block is located offshore of East Kalimantan (Borneo), 170 kilometres south of Bontang LNG plant and just 35 kilometres south of Jangkrik field.
Images: Eni