ENI to develop biofuel strategies with Indonesia after MoU signed

Indonesia has signed a MoU with ENI in a bid to tackle carbon emissions.
The agreement covers the development of biofuels, carbon offsets as well as other initiatives related to the energy transition and decarbonisation including Carbon Capture Storage (CCS), Carbon Capture Utilisation and Storage (CCS/CCUS) and energy efficiency.
The collaboration signals Indonesia’s attempts to ramp up decarbonisation as it strives to hit net-zero emissions by 2060.
ENI holds participating interest in 13 Production Sharing Contracts in Indonesia (nine in deep waters) with actual gas production amounting to 705.6 mmscfd in 2023. Its annual hydrocarbons production totals 23mm boe and it supplies 1.36 bcm of LNG.
Among its main activities is the development of Merakes, a field located in the deep waters of East Kalimantan that will enable the country to increase its gas output for the domestic energy market and for export by exploiting existing infrastructure.
Last October it announced an important gas discovery in the Kutei basin, around 85 km from the east coast of Kalimantan, after buying Chevron’s interests in the basin in July.
Indonesia’s remarkable economic growth over the past half-century has had major implications for its energy sector and emissions, with coal playing a large role in both, according to the IEA.
Despite recent signs of a slowdown in exports and commodity prices, its economy still grew 5% in the fourth quarter of 2023.