{
  "id": 13904652,
  "title": "Pertamina, Medco acquire participation rights in ENI’s oil and gas projects",
  "url": "https://urgent.news/2026/10/12/pertamina-medco-acquire-participation-rights-in-enis-oil-and-gas",
  "topic": "business",
  "section": "Business",
  "published": "2026-10-12T08:01:47.000Z",
  "source": {
    "name": "The Jakarta Post",
    "slug": "the-jakarta-post",
    "url": "https://www.thejakartapost.com/business/2026/10/12/pertamina-medco-acquire-participation-rights-in-enis-oil-and-gas-projects.html"
  },
  "original_language": "en",
  "account": "PT Pertamina Hulu Energy (PHE) and PT Medco Energi International have inked deals with Eni, the Italian energy conglomerate, to acquire a slice of Eni's stake in oil and gas ventures in East Kalimantan. PHE secured a 10% stake in the North Ganal and Rapak blocks through purchase agreements, while its share in East Sepinggan surged from 15% to 25%. This strategic move aligns with PHE's goal of bolstering its upstream oil and gas portfolio with assets boasting robust fundamentals and high resource potential. The acquired assets, situated in a pivotal Indonesian oil and gas hub, are backed by comprehensive upstream and downstream infrastructure. As a wholly-owned subsidiary of Pertamina, PHE's involvement in these assets is poised to expedite operations at the Kutei North Hub Project, a project earmarked as a National Strategic Project. This acquisition is also anticipated to foster collaboration with Pertamina's subsidiary, PT Badak NGL, and contribute to amplified production.",
  "summary": "PT Pertamina Hulu Energy (PHE) and PT Medco Energi International have signed agreements with Italian energy giant Eni to acquire a portion of its participation rights in East Kalimantan.",
  "key_points": [
    "PT Pertamina Hulu Energy (PHE) acquires 10% stake in North Ganal and Rapak blocks",
    "Medco Energi International partners with PHE to expand Indonesian oil and gas portfolio",
    "Assets bolstered with robust infrastructure, enhancing Kutei North Hub Project operations"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}