SEATTLE (Oil Monster):Eni has announced a major natural gas find at its Konta-1 exploration well in the Muara Bakau PSC, situated about 50 kilometers offshore East Kalimantan in Indonesia’s Kutei Basin.
Preliminary assessments indicate the structure holds roughly 600 billion cubic feet (bcf) of gas, with the prospect of surpassing 1 trillion cubic feet (tcf) as further reservoir intervals are evaluated.
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The well was drilled to 4,575 meters in 570 meters of water and encountered four Miocene-age sandstone zones exhibiting strong reservoir quality. Testing on one interval recorded production of up to 31 million standard cubic feet per day (mmscf/d) of gas and approximately 700 barrels per day (bbl/d) of condensate.
Eni believes total output from multiple pools could reach 80 mmscf/d of gas and around 1,600 bbl/d of condensate.
Located near existing offshore facilities, the discovery offers promising opportunities for accelerated development. The result strengthens Eni’s near-field exploration focus in the Kutei Basin and aligns with plans to drill four more wells in 2026. Eni operates Konta-1 with an 88.334% interest, partnered with Saka Energi Indonesia.
The block will join a forthcoming Eni-PETRONAS joint venture targeting more than $15 billion in regional upstream investments.
