Eni hits more gas in Indonesia

Italian energy firm Eni revealed on Monday a "giant" gas discovery approximately 70 km off the East Kalimantan coast in Indonesia. Preliminary estimates indicate in-place resources of approximately 5 trillion cubic feet (Tcf) of gas and 300 million barrels of condensate in the encountered interval, according to Eni.

The Geliga‑1 well, in the Ganal block in the Kutei Basin, was drilled to a total depth of around 5,100 meters in a water depth of about 2,000 meters and encountered a “significant” gas column in the targeted Miocene interval, characterized by “excellent” petrophysical properties, Enisaid in a statement.

Eni plans a drill stem test (DST) to assess the productivity of the reservoir.

The Geliga‑1 discovery is part of a “highly successful” exploration track record in the Kutei Basin and follows the Geng North giant discovery made in late 2023 only 20 km south of Geliga, as well as the more recent Konta‑1 well discovery announced in December 2025, Eni noted.

These results confirm the “significant potential of the basin’s gas play and the scalability of resources in the area.”

Moreover, Eni said the Geliga‑1 discovery also follows the recent final investment decisions (FIDs) for the Gendalo and Gandang gas project (South Hub), and for the Geng North and Gehem fields (North Hub).

The North Hub project will leverage a newly built FPSO with a handling capacity of 1 bscfd of gas and 90,000 bpd of condensate, as well as the existing Pertamina-operated Bontang LNG plant.

Extending Bontang LNG’s operational life

Eni said that analyses are ongoing to evaluate accelerated development options, also considering the proximity to existing and planned infrastructures, which offer potential synergies in terms of time‑to‑market and cost optimization.

The new discovery is adjacent to the not‑yet‑developed Gula gas discovery (2 Tcf of gas in place with 75 million barrels of condensate).

Initial assessments indicate that the combined Geliga and Gula resources have the capacity to produce an additional 1 bscfd of gas and 80,000 bpd of condensate, opening the possibility—among others—of establishing, in a fast‑track mode, a third production hub in the prolific Kutei Basin by mirroring the development concept of the ongoing North Hub project, according to Eni.

Studies are also underway to evaluate a further rejuvenation of Bontang LNG by resuming additional liquefaction capacity beyond what is already planned for the North Hub development, thus further extending the plant’s operational life, it said.

Over the past six months, Eni has successfully drilled four other exploration wells within the same basin.

The exploration campaign will continue with one additional well planned in 2026 and two further wells in 2027, Eni said.

Petronas JV

The Geliga‑1 discovery is located in the Ganal PSC, operated by Eni with an 82 percent interest, while Sinopec holds the remaining 18 percent.

The Ganal PSC is part of a portfolio of 19 blocks (14 in Indonesia and 5 in Malaysia) that will be contributed to Searah, a jointly controlled company between Eni and Malaysia’s Petronas announced in November 2025.

Eni said Searah’s business plans include the development of approximately 3 billion barrels of oil equivalent (boe) of discovered resources and the unlocking of significant exploration potential.

Closing of the transaction is expected within the second quarter of 2026.

Eni said the valorization to a third party of a 10 percent stake in the Eni Indonesia portfolio withheld from the Searah transaction is underway and expected to be concluded in 2026.

The Geliga discovery adds to the value of this sale, the firm added.

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