Eni finds 5Tcf gas, 300M barrel condensate
Watch: Track progress on the Searah joint transaction closing and details on the Indonesia stake sale for capital deployment impact.
Eni discovered approximately 5 trillion cubic feet of gas and 300 million barrels of condensate at its Geliga-1 well offshore East Kalimantan. This site is near existing infrastructure capable of processing 1 billion cubic feet of gas and 90,000 barrels of condensate per day. Eni plans to close a joint company transaction with Petronas in Q2 2026 and pursue selling a 10% stake in its Indonesia portfolio.
The discovery potentially boosts Eni's production capacity by 1 billion cubic feet of gas and 80,000 barrels of condensate per day, underpinning growth in its Indonesia assets and strengthening cash flow prospects amid broader portfolio efforts.
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