By Nathan Allen

Eni SpA (ENI.MI) said Monday that its board of directors and the Indonesian government have approved the oil major's development plan for the Merakes natural gas project offshore East Kalimantan.

Merakes is located in the Kutei Basin near Eni's Jangkrik field, which went into production in 2017. The proximity will allow Eni to make use of existing infrastructure to transport the gas.

Eni said it will drill several wells in waters of 1,500 meters, which will be connected to the Jangkrik floating production unit. Gas extracted from the wells will be shipped to Eni's Bontang LNG plant, the company said.

Write to Nathan Allen at nathan.allen@dowjones.com

(END) Dow Jones Newswires

December 17, 2018 05:09 ET (10:09 GMT)

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