(April 20): Italian energy major Eni SpA made a large offshore gas discovery in Indonesia, potentially helping the Southeast Asian nation’s effort to curb a looming deficit.
Eni estimated resources found at the Geliga-1 well off East Kalimantan province at five trillion cu ft of gas and 300 million barrels of condensate, according to an emailed statement from the company, which has a joint venture with Malaysia’s Petroliam Nasional Bhd, or Petronas. Indonesia had 33.8 trillion cu ft in proven gas reserves in 2024, according to the US Energy Information Administration.
The discovery comes as Indonesia contends with falling gas reserves and rising demand, threatening to force the country to import more of the fuel. Though Indonesia is the world’s sixth-largest LNG supplier, net exports have dropped about 50% between 2010 and 2025, according to ship-tracking data compiled by Kpler.
The exploration campaign off the east coast of Borneo island will continue with one additional well planned in 2026 and two more in 2027, Eni said. The finding supports plans to accelerate development using existing infrastructure and could add significant production, including a potential third hub in the area, the company added.
The war in the Middle East has disrupted a fifth of global liquefied natural gas supply, sending prices higher and forcing Asian policymakers to rethink long-term dependence on the fuel. Indonesia’s government is exploring ways to retain more of its gas output for local use, potentially scaling back earlier plans to increase imports of the fuel, Bloomberg reported last week.
Uploaded by Arion Yeow
