ENI upgrades size of Indonesia gas find

Italian energy group Eni yesterday raised its estimate of the natural gas contained in a deep water well off Indonesia by 20 billion cubic metres (bcm), a 55 percent increase on initial projections. The company said the completion of post-drilling studies on the Merakes-1 well in the East Sepinggan Block off East Kalimantan in Borneo had led them to upgrade the forecast of its reserves from 36 bcm to 56 bcm (1.3 trillion cubic feet to 2.0 tcf).