Italy’s Eni Discovers Major Gas Reserves off Borneo in Indonesia

Wedoany.com Report-Dec.10, Italian energy company Eni announced on Tuesday that it has made a significant natural gas discovery in the Kutei Basin, approximately 50 kilometers off the eastern coast of Indonesia's Kalimantan region (Indonesian part of Borneo Island).

The Konta-1 exploration well, drilled under the Muara Bakau Production Sharing Contract, revealed four gas-bearing reservoirs. Preliminary estimates indicate an in-place gas volume of around 600 billion cubic feet, with potential upside that could exceed 1 trillion cubic feet, according to the company.

Eni stated that the positive result strengthens confidence in its ongoing exploration program in the Kutei Basin, where four additional wells are scheduled to be drilled in 2026.

The Muara Bakau block forms part of a broader portfolio of 19 exploration blocks—14 located in Indonesia and five in Malaysia—that will be operated through a newly established joint venture between Eni and Malaysian state energy company Petronas.

In the Muara Bakau PSC, Eni serves as operator with an 88.33% participating interest, while Indonesian company Saka Energi holds the remaining 11.66% interest.

The discovery adds to existing gas resources in the area and supports continued exploration and development activities in the region.