The Minister of Energy and Mineral Resources (ESDM), Bahlil Lahadalia, has announced that an Italian company, Eni, has expressed its intention to invest USD 10 billion (IDR 150 trillion) in East Kalimantan Province for natural gas production fields located off the coast of East Kalimantan (Makassar Strait). These fields include the natural gas fields in the Jangkrik Block and Merakes Block. Production is scheduled to commence in 2027. According to Bahlil, the production of natural gas from these two neighbouring fields is expected to increase, thus meeting domestic and export demand for energy.
Despite global conflicts, Bahlil noted that European companies are still willing to invest in Indonesia, particularly in East Kalimantan. This is a positive development, as the investment has the potential to stimulate regional economic growth. Furthermore, Bahlil stated that Eni's investment is anticipated to have a significant impact on regional economic growth and job creation, both at the local and national levels. Furthermore, concerning the participating interest (PI) or the proportion of production and exploration ownership, efforts will be made to have Eni transfer part of the PI to East Kalimantan Province, thereby increasing the revenue-sharing funds (Dana Bagi Hasil/DBH) for the province.
