Eni Discovers a Vast Gas Field in Indonesia

Eni has brought to light a new gas field in the exploratory well Konta-1 in Indonesia. It has a volume of 17 billion cubic meters and a potential of 28 billion cubic meters. This new discovery is located in the Muara Bakau block, where Eni is the operator and holds an 88.3% stake, with Saka Energi holding the remaining 11.66%. Based on production tests conducted at the well, the company estimates it can work around 900 thousand cubic meters of gas per day and 700 barrels per day of condensate. “Konta is close to existing infrastructure and adjacent to already discovered fields – the company explains – this offers significant synergies in development; options for accelerated development are already being studied.” Eni plans to conduct further explorations in that area and expects to drill another 4 wells in the Kutei Basin in 2026. At the corporate level, the Psc Muara Bakau area is one of the 19 blocks that will be managed jointly by Eni and Petronas through the newly announced joint venture. Of the total blocks included in the new company, 14 are in Indonesia (including Muara Bakau) and 5 in Malaysia. “We will combine complementary portfolios – the company explains – technical and financial expertise, and consolidated regional experience to generate long-term value, ensure operational excellence, and promote leadership in the energy transition in the Southeast Asian region, with an investment plan exceeding $15 billion over the next five years.” The completion of the operation will take place in 2026, and the investment, Eni writes, will support the development of “at least eight new projects and the drilling of 15 exploratory wells, aiming to develop approximately 3 billion barrels of oil equivalent (boe) of discovered reserves and unlock an estimated exploratory potential of 10 billion barrels.”