GDF SUEZ pursues its development in the Asia-Pacific region, entering into exploration-production in Indonesia

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02 SEP 2009

GDF SUEZ has just finalised the acquisition from Eni of a 45% stake in the offshore exploration Muara Bakau Production Sharing Contract (PSC) in Indonesia. Thanks to this new PSC, GDF SUEZ is moving into exploration in Indonesia alongside Eni who is maintaining its position as operator with a 55% stake.

GDF SUEZ is thus strengthening its position in exploration-production in the Asia-Pacific region following the acquisition of a 60% stake in three gas fields in Australia last August.

This acquisition is within the framework of the asset swap agreement signed between GDF SUEZ and Eni in 2008. This agreement includes the disposal by Eni of a group of exploration-production assets in the United Kingdom, the Gulf of Mexico, Egypt and Indonesia.

The Muara Bakau PSC covers an area of 1,082 km² and is in the eastern part of the Kutei basin, off the Mahakam delta, in water depths ranging from less than 200 to approximately 1,000 m.

An initial exploration campaign was successfully carried out in March 2009. The drilling of a well on the Jangkrik geological area confirmed the presence of a significant volume of hydrocarbons, demonstrating the exploration potential of this contract.

Indonesia has significant hydrocarbon reserves estimated at over 4.3 billion barrels of oil equivalent and over 6.23 Tm3 of natural gas*. Over half of the country’s gas reserves are located offshore, mainly to the east of Kalimantan.
Indonesia has the world’s 10th largest natural gas resources and the main reserves in the Asia-Pacific region. Indonesia is also a significant exporter of LNG.

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