Eni has announced a significant new gas discovery, Geliga-1, in the Ganal PSC offshore East Kalimantan, Indonesia. Preliminary estimates indicate the well hosts approximately 5 trillion cubic feet (Tcf) of in-place gas and 300 million barrels of condensate.

Discovery Details and Development Potential

The Geliga-1 exploration well was drilled to a depth of 5,100 meters in water 2,000 meters deep, encountering a significant gas column with excellent reservoir properties. Its location is strategic, being adjacent to the previously discovered Gula field. Initial assessments suggest the combined Geliga and Gula resources could support production of 1 billion cubic feet per day of gas and 80,000 barrels per day of condensate. This opens the possibility for Eni to establish a third production hub in the Kutei basin using a fast-track development model, mirroring the concept of its ongoing North Hub project.

Strategic Context and Infrastructure

This discovery is part of a series of successes for Eni in the region, following the Geng North and Konta-1 finds. The company recently took final investment decisions for its South Hub (Gendalo and Gandang) and North Hub (Geng North and Gehem) projects. The North Hub will utilize a new floating production vessel and the existing Bontang LNG plant, where Eni plans to reactivate a mothballed train and is studying further life extension. The proximity of Geliga to this planned and existing infrastructure offers potential synergies for accelerated development.

Corporate and Portfolio Developments

Eni holds an 82% operated interest in the Ganal PSC, with Sinopec holding 18%. This PSC is among 19 blocks to be contributed to 'Searah', a joint venture with Petronas expected to close in mid-2026. Separately, Eni is divesting a 10% stake in other Indonesian upstream assets not included in the JV, a process the Geliga discovery enhances. The company's ongoing exploration campaign in the Kutei basin includes additional wells planned for 2026 and 2027. Eni's current net production in Indonesia is approximately 90,000 barrels of oil equivalent per day.