Eni Discovers Major Gas Reserve in Indonesia's Kutei Basin

Discovery Details

Eni has announced a significant gas discovery in the Konta-1 exploration well, located in the Muara Bakau PSC, Kutei Basin, Indonesia. The well, drilled to a depth of 4,575 meters in 570 meters of water, encountered gas in four Miocene-age sandstone reservoirs. Initial estimates suggest 600 billion cubic feet (Bcf) of gas in place, with potential exceeding 1 trillion cubic feet (TCF).

Production Potential

A successful well production test (DST) in one reservoir showed a flow of up to 31 million standard cubic feet per day (mmscfd) of gas and approximately 700 barrels per day (bbld) of condensate. The well's estimated potential is a multi-pool gas rate of up to 80 mmscfd and about 1,600 bbld of condensate.

Development Plans

The Konta discovery is near existing facilities and adjacent to other discoveries, offering significant development synergies. Fast-track development options are under study. The discovery supports the continuation of Eni's exploration campaign, with four additional wells planned in the Kutei Basin for 2026.

Strategic Collaboration

Muara Bakau is part of 19 blocks managed by a new company formed by Eni and PETRONAS. This collaboration aims to invest over USD 15 billion in Southeast Asia over the next five years, developing at least eight new projects and drilling 15 exploration wells. The goal is to develop approximately 3 billion barrels of oil equivalent (boe) of discovered reserves and unlock an estimated 10 billion boe of unrisked exploration potential, with closing expected by 2026.