Eni has confirmed a significant natural gas discovery at the Konta-1 exploration well in the Muara Bakau Production Sharing Contract (PSC), located approximately 50 kilometers offshore East Kalimantan in Indonesia’s Kutei Basin. Early estimates place the gas initially in place at around 600 billion cubic feet (bcf), with the potential to exceed 1 trillion cubic feet (tcf) once additional reservoir segments are assessed.
Drilled to a depth of 4,575 meters in 570 meters of water, the well intersected four Miocene-age sandstone reservoirs with strong petrophysical characteristics. A drill stem test on one reservoir delivered flow rates of up to 31 million standard cubic feet per day (mmscf/d) of natural gas and around 700 barrels per day (bbl/d) of condensate.
Eni estimates the well could achieve a combined multi-pool output of up to 80 mmscf/d of natural gas and roughly 1,600 bbl/d of condensate, according to a press release by Eni.
The discovery sits close to existing infrastructure and nearby fields, enabling potential fast-track development options now under evaluation. The results reinforce Eni’s near-field exploration strategy in the Kutei Basin and support the company’s plan to drill four additional exploration wells in 2026.
Konta-1 is operated by Eni with an 88.334% stake, alongside partner Saka Energi Indonesia (11.666%). Muara Bakau is among 19 upstream blocks in Indonesia and Malaysia that will fall under a new joint venture (JV) equally owned by Eni and PETRONAS, which is expected to launch in 2026.
The venture aims to invest over $15 billion in the next five years to develop at least eight new projects, drill 15 exploration wells, and advance approximately 3 billion barrels of oil equivalent (boe) in discovered resources, with an estimated 10 billion boe in unrisked exploration potential.
Eni has operated in Indonesia since 2001 and currently produces approximately 90,000 boe/d from the Jangkrik and Merakes fields in East Kalimantan.
