Eni announced a major “giant” gas discovery at the Geliga-1 exploration well offshore Indonesia .
The well is situated in the Ganal block within the Kutei Basin, approximately 70 km off the coast of East Kalimantan.
Preliminary estimates indicate 5 trillion cubic feet (Tcf) of in-place gas and 300 million barrels (MMbbl) of condensate.
The well reached a depth of 5,100 metres in water depths of about 2,000 metres, encountering a significant gas column in high-quality Miocene reservoirs.
This find may support a fast-tracked third production hub in the Kutei Basin, joining the existing Jangkrik/Merakes hub and the planned North Hub (Geng North/Gehem).
Indonesian authorities expect this and related discoveries to boost Eni’s local gas production from 700 million standard cubic feet per day (mmscfd) to 2,000 mmscfd by 2028.
The site is just 20 km north of the Geng North discovery and near the Gula gas field, allowing for significant infrastructure sharing and cost optimization.
Ownership and Partnerships
Eni operates the Ganal PSC with an 82% interest, while Sinopec holds the remaining 18%. These assets are scheduled to be contributed to Searah, a joint venture between Eni and Petronas, by the second quarter of 2026.
The Geliga-1 discovery is being integrated into a broader regional strategy involving a new joint venture with Petronas and an aggressive production timeline aimed at nearly tripling Eni’s Indonesian output by 2028.
Indonesian Energy Minister Bahlil Lahadalia has formed a special team to accelerate development, targeting production to start in 2028.
The discovery is expected to help boost Eni’s total gas production in Indonesia from approximately 700 million standard cubic feet per day (mmscfd) to 2,000 mmscfd by 2028.
Fast-Track “Third Hub”: Eni is evaluating a fast-track model for Geliga-1 by mirroring the development concept of the ongoing North Hub project.
Combining Geliga with the adjacent undeveloped Gula field (2 Tcf) could support an additional 1 billion standard cubic feet per day (bscfd) of gas and 80,000 barrels per day (bpd) of condensate.
The project will leverage the existing Bontang LNG plant, where plans are underway to reactivate a mothballed liquefaction train to extend the facility’s life.
The Eni-Petronas Joint Venture was officially named Searah, a word meaning “alignment” or “shared direction” in both Indonesian and Malaysian.
The Ganal PSC (containing Geliga-1) is one of 19 blocks—14 in Indonesia and 5 in Malaysia—being contributed to Searah.
The venture aims to develop approximately 3 billion barrels of oil equivalent (boe) in discovered resources and reach a production level exceeding 500,000 boe per day in the mid-term (by 2029).
The transaction is expected to close within the second quarter (Q2) of 2026.
The Geliga discovery has significantly increased the value of this portfolio as Eni also moves to sell a separate 10% stake in its remaining Indonesian assets during 2026.
Note by Alessandro Bazzoni