Eni makes gas discovery in Kutei Basin, Indonesia
Eni announced a gas discovery in the Konta-1 exploration well, drilled in the Muara Bakau PSC in the Kutei Basin, about 50 km off the coast of East Kalimantan in Indonesia. Estimates indicate 600 billion cu ft of gas initially in place (GIIP) with a potential upside beyond 1 trillion cu ft.
Konta-1 was drilled to a depth of 4,575 m in 570 m water depth, encountering gas in four separate sandstone reservoirs of Miocene age with good petrophysical properties that have been subject to an extensive data acquisition campaign. Muara Bakau is part of the 19 blocks, 14 in Indonesia and 5 in Malaysia, that will be managed by an equally owned company (NewCo) established by Eni and PETRONAS.
NewCo will support the development of at least eight new projects and the drilling of 15 exploration wells, with the aim of developing approximately 3 billion barrels of oil equivalent (boe) of discovered reserves and unlock an estimated 10 billion boe of unrisked exploration potential. Closing is expected within 2026.
