Indonesia’s upstream regulator SKK Migas has approved the revised plan of development for Eni’s Merakes offshore asset, which includes approval for the exploitation of the ultra-deepwater Merakes East satellite field.

The revised plan envisages estimated investments of $3.35 billion, comprising capital expenditure of $2.14 billion and operational expenditure of $1.26 billion.

SKK Migas spokesperson Mohammad Kemal said that under the new development plan, the project's total production capacity would increase to a maximum 440 million cubic feet of gas, reported Reuters.