Eni introduced, in an announcement despatched to Rigzone not too long ago, a “vital fuel discovery” within the Konta-1 exploration effectively off the coast of East Kalimantan in Indonesia.
“Estimates point out 600 billion cubic ft of fuel initially in place (GIIP) with a possible upside past one trillion cubic ft,” Eni mentioned within the assertion.
The Konta-1 discovery is located within the Muara Bakau PSC, Eni highlighted within the assertion, mentioning that that is operated by the corporate with an 88.334 % taking part curiosity. Saka Energi holds the remaining 11.666 % stake.
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“Konta-1 was drilled to a depth of 4,575 meters [15,009 feet] in 570 meters [1,870 feet] water depth, encountering fuel in 4 separate sandstone reservoirs of Miocene age with good petrophysical properties which were topic to an intensive information acquisition marketing campaign,” Eni mentioned within the assertion.
“A effectively manufacturing take a look at (DST) has been efficiently carried out in one of many reservoirs and it flowed as much as 31 million customary cubic ft per day of fuel and roughly 700 barrels per day of condensate,” Eni added.
“Based mostly on the DST outcomes the effectively has an estimated potential for a multi-pool fuel charge of as much as 80 million customary cubic ft per day of fuel and about 1,600 barrels per day of condensate,” it continued.
Eni famous within the assertion that preliminary estimates point out a found quantity of 600 billion cubic ft of fuel in place within the 4 reservoirs hit by the effectively trajectory.
“Further reservoir segments within the Konta Prospect space, not penetrated by the effectively, however with related fuel signature, could deliver the general volumes past one trillion cubic ft GIIP,” it added.
Eni highlighted within the assertion that the Konta discovery is sitting close by current amenities and adjoining to current discoveries, “offering vital synergies for the event”. The corporate mentioned choices for a fast-track improvement are already underneath examine.
“The invention additionally offers further confidence for the continuation of the deliberate exploration drilling marketing campaign, which envisages the drilling of further 4 wells in 2026 within the Kutei Basin,” Eni revealed.
“The invention confirms the effectiveness of Eni’s near-field exploration technique within the Kutei Basin, geared toward creating worth by means of its deep data of geological performs and the appliance of superior geophysical applied sciences, whereas exploiting the synergies with current tasks and amenities,” it mentioned.
Within the assertion, Eni famous that Muara Bakau is a part of the 19 blocks that can be managed by an equally owned firm established by Eni and Petronas.
This firm “will mix complementary portfolios, technical and monetary strengths, and regional experience to ship long-term worth creation, operational excellence, and management within the power transition throughout the Southeast Asia area, planning to spend money on extra of $15 billion over the following 5 years,” Eni mentioned within the assertion.
“This funding will assist the event of no less than eight new tasks and the drilling of 15 exploration wells, with the purpose of creating roughly three billion barrels of oil equal of found reserves and unlock an estimated 10 billion barrels of oil equal of unrisked exploration potential,” it added, noting that “closing is anticipated inside 2026”.
Eni highlighted in its assertion that it has been working in Indonesia since 2001 and mentioned it “at present has a big portfolio of belongings in exploration, improvement, and manufacturing phases with a present fairness manufacturing of roughly 90,000 barrels of oil equal from the Jangkrik and Merakes fields in East Kalimantan”.
In an announcement posted on its web site on November 3, Eni introduced a binding settlement between the corporate and Petronas “to ascertain an unbiased firm (NewCo) underneath equal possession, by combining their respective upstream belongings in Indonesia and Malaysia”.
“The settlement follows the framework settlement signed by the 2 firms on 17 June 2025 and establishes a brand new entity that can handle 19 belongings: 14 in Indonesia and 5 in Malaysia – representing vital enterprise worth,” it added.
Eni CEO Claudio Descalzi mentioned on this assertion, “that is one other vital step in the direction of the brand new firm that Eni and Petronas have agreed to create throughout Indonesia and Malaysia, producing synergy by way of belongings, experience and monetary capabilities, in a transformational mannequin that additional strengthens the massive potential of the 2 international locations”.
“The brand new firm can have a robust regional impression on fuel manufacturing, bringing further power, infrastructures and employment for the good thing about each Indonesia and Malaysia,” he added.
“The brand new firm may also have the chance to additional construct on an incredible, mixed portfolio of greater than 50 trillion cubic ft of further, low danger exploration potential,” he continued.
In an announcement posted on its web site on November 3, Petronas introduced that it and Eni, by means of their respective subsidiaries, signed an funding settlement to ascertain a regional upstream three way partnership firm.
“This milestone marks a serious step ahead for Petronas’ first enterprise right into a satellite tv for pc enterprise mannequin to speed up upstream improvement in Malaysia and Indonesia,” Petronas mentioned in that assertion.
President and Group Chief Government Officer of Petronas Tan Sri Tengku Muhammad Taufik mentioned on this assertion, “this historic partnership between Petronas and Eni is envisaged to set a brand new benchmark for extra environment friendly, cost-effective and accountable upstream improvement”.
“Adopting this modern and confirmed enterprise mannequin reinforces Petronas’ agency dedication to assist nationwide and regional power aspirations, because it paves the best way for us to ship larger and extra sustainable worth to our clients, host nations, the larger upstream sector, in addition to our stakeholders,” the Petronas President and Group CEO added.
To contact the writer, e mail andreas.exarheas@rigzone.com
