Eni Announces Major Gas Discovery in Kutei Basin, Indonesia

Eni has announced a substantial gas discovery in the exploratory well Konta-1, drilled in the PSC Muara Bakau, in the Kutei Basin, around 50 km off the coast of East Kalimantan in Indonesia. Preliminary estimates indicate a discovered volume of 17 billion cubic meters (Bcm) of gas in place with a potential exceeding 28 billion cubic meters.

Konta-1 was drilled to a depth of 4,575 meters in 570 meters of water depth, encountering gas in four distinct Miocene age sandstone reservoirs with good petrophysical properties and subjected to an extensive data acquisition campaign.

A well production test (DST) was successfully carried out in one of the reservoirs and produced up to 900,000 cubic meters per day (m³/d) of gas and approximately 700 barrels per day (bbl/d) of condensate. These DST results estimate the well’s potential for a multi-reservoir total flow of up to 2.2 million m³/d of gas and approximately 1,600 bbl/d of condensate.

Preliminary estimates indicate a discovered volume of 17 billion cubic meters (Bcm) of gas in place in the four reservoirs intercepted by the well trajectory. Additional reservoir segments in the Konta Prospect area, not intersected by the well, but with similar geological characteristics, could bring the total volume to over 28 billion cubic meters of gas in place (GIIP).

The Konta discovery is located close to existing infrastructure and adjacent to previously made discoveries, offering significant development synergies; options for accelerated development are already under consideration. The discovery also reinforces the confidence in the continuation of the planned exploration campaign, which foresees the drilling of another 4 wells in 2026 in the Kutei Basin.

The discovery confirms the effectiveness of Eni’s near-field exploration strategy in the Kutei Basin, aimed at creating value through a deep understanding of geological models and the application of advanced geophysical technologies, while leveraging synergies with existing projects and infrastructure.

The Konta-1 discovery is in the PSC Muara Bakau, in which Eni is the operator and holds a participation of 88.334%, while Saka Energi holds the remaining 11.666%.

Muara Bakau is part of the 19 blocks, 14 in Indonesia and 5 in Malaysia that will be managed by a joint-control company (NewCo) between Eni and PETRONAS. The NewCo will combine complementary portfolios, technical and financial capabilities and consolidated regional experience to generate long-term value, ensure operational excellence, and promote leadership in the energy transition in the South-East Asian area, with an investment plan exceeding 15 billion dollars in the next five years.

This investment will support the development of at least eight new projects and the drilling of 15 exploratory wells, with the aim to develop about 3 billion barrels of oil equivalent (boe) of discovered reserves and unlock an estimated exploration potential of 10 billion boe unrisked. The closing of the operation is expected during 2026.

Eni has been operating in Indonesia since 2001 and currently has a broad portfolio of assets in the exploration, development, and production phases, with a current equity production of around 90,000 boe from the Jangkrik and Merakes fields in East Kalimantan.

Source and image credit @Eni.