Eni Confirms Size of 'Giant' Gas Discovery Offshore Indonesia

Why It Matters

The find bolsters Indonesia’s gas supply pipeline and positions Eni, via the Searah JV, as a leading LNG player in a rapidly growing Asian market. It also accelerates the timeline for new production hubs that will feed domestic and export LNG demand.

Key Takeaways

• Geliga‑1 holds ~5 Tcf gas and 300 M barrels condensate.
• DST showed 200 MMcf/d gas and 10,000 bpd condensate flow.
• Combined Geliga and Gula could deliver ~1,000 MMcf/d gas, 80,000 bpd condensate.
• Eni plans fast‑track POD for third Kutei hub, targeting 2028‑29.
• Searah JV aims to create major LNG player in Asian market.

Pulse Analysis

Indonesia’s Kutei Basin has emerged as a strategic frontier for deep‑water gas, and Eni’s latest confirmation of Geliga‑1 underscores that trend. The discovery, located in 2,000‑meter water depths, adds roughly 5 trillion cubic feet of gas and a sizable condensate column to the region’s resource base. Partnered with China Petroleum & Chemical Corp, Eni’s 82 percent stake reflects a broader shift toward multinational collaborations that de‑risk high‑cost offshore projects while tapping Indonesia’s growing energy appetite.

Technical data from the drill‑stem test reveal robust deliverability: the well flowed up to 60 MMscfd under rig constraints and sustained 200 MMcf/d of gas with 10,000 bpd of condensate. When paired with the adjacent Gula field, the combined assets could generate around 1 billion cubic feet per day of gas and 80,000 bpd of condensate, feeding both domestic pipelines and the Bontang LNG plant. The high‑quality Miocene reservoir and existing subsea infrastructure enable a relatively swift transition from discovery to production, positioning the assets as a cornerstone for Indonesia’s LNG export ambitions.

Strategically, Eni is leveraging the Geliga find to accelerate its North and South Hub development plans, targeting first gas in 2028 and peak output by 2029. The fast‑track plan of development (POD) will add a third hub to the Kutei Basin, complementing the Gendalo‑Gandang and North Hub projects that together hold nearly 10 Tcf of gas in place. Coupled with the pending Searah joint venture with Malaysia’s Petronas, the move creates a sizable Asian‑focused LNG platform, potentially reactivating idle liquefaction trains at Bontang and expanding export capacity to meet rising regional demand.