00:00Italian energy giant Eni has announced a major discovery of natural gas off Indonesia's coast,
00:06which the government said would triple the European company's production in the country by 2028.
00:12The Southeast Asian archipelago already produces more gas than it uses,
00:17with rising demand for the commodity widely used for cooking, heating and electricity generation.
00:22In a statement late Monday, Eni said preliminary estimates indicated the site
00:27some 70 kilometers off the coast of East Kalimantan province held about 5.0 trillion cubic feet of gas
00:34and 300 million barrels of condensate, a liquid hydrocarbon.
00:39The new find it added unlocked significant new volumes for domestic and international markets.
00:45Indonesian Energy and Mineral Resources Minister Balila Hadalia described it as a giant discovery,
00:51saying that in addition to gas, the country is expected to produce
00:55roughly 90,000 barrels of condensate by 2028,
00:58with output potentially increasing to 150,000 barrels by 2029 to 2030.
01:05Natasha Bust, FMT
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