The Italian oil and gas company Eni has made a natural gas discovery in the Kutei Basin in Indonesia, amounting to a estimated volume of 5 tcf (142 bcm) of gas, with a content of condensate estimated up to 400 mbl. The discovery was made from the Geng North-1 exploration well, drilled to a depth of 5,025 m in 1,947 m water depth.
Eni also announced that the discovery opens the door to the creation of a new production hub to be tied to the Bontang LNG facilities on the coast of East Kalimantan. The Geng North discovery is adjacent to the Indonesia Deepwater Development (IDD) area that includes several stranded discoveries located within the Rapak and Ganal PSC blocks, for which Eni recently announced the acquisition of Chevron interests.
As of end-2022, Indonesia’s total proved gas reserves stood at 1,063 bcm.