- Geliga‑1 encountered ~5 Tcf of gas and ~300 MMbbl of condensate in a high‑quality Miocene reservoir, with a Drill Stem Test planned to assess productivity.
- Ganal PSC is 82% Eni and 18% Sinopec; assets will be contributed to Searah with closing targeted in Q2 2026 and a separate 10% portfolio stake sale expected in 2026.
- North Hub FIDs include an FPSO with 1 bscfd gas and 90,000 bpd condensate handling capacity; combined Geliga+Gula resources could add ~1 bscfd and 80,000 bpd, enabling a potential fast‑track third hub and extended Bontang liquefaction.
- Exploration campaign: four wells drilled in the past six months, with one well planned in 2026 and two further wells in 2027.
Discovery
Geliga‑1 in the Ganal block (Kutei Basin), ~70 km off East Kalimantan, encountered ~5 Tcf gas and ~300 MMbbl condensate in a Miocene interval with strong petrophysical properties; well depth ~5,100 m in ~2,000 m water depth and a Drill Stem Test is planned.
Basin context
The result follows the Geng North giant discovery (late 2023) and the Konta‑1 discovery (Dec 2025), reinforcing the scalability of the Kutei gas play.
Development potential
North Hub FIDs include an FPSO with 1 bscfd gas and 90,000 bpd condensate capacity and links to the Bontang LNG plant; Geliga sits adjacent to undeveloped Gula (2 Tcf, 75 MMbbl) and combined Geliga+Gula assessments indicate potential for ~1 bscfd and ~80,000 bpd additional output, supporting a possible fast‑track third production hub and studies to increase Bontang liquefaction beyond current North Hub plans.
Ownership and transaction
Ganal PSC is 82% Eni and 18% Sinopec; the block is among 19 to be contributed to Searah (joint Eni–Petronas vehicle) announced Nov 2025, with closing expected in Q2 2026; a separate 10% portfolio stake sale is planned for 2026, with Geliga increasing asset value.
Exploration schedule
Four other exploration wells were drilled in the past six months; one well is planned in 2026 and two in 2027, while analyses continue on accelerated development options and infrastructure tie‑ins.
