Italian oil and gas company Eni makes a significant gas discovery in Indonesia’s Konta-1 well, with estimated reserves of 600 billion cubic feet, potentially exceeding 1 trillion cubic feet. The well, drilled to 4,575m depth, encountered gas in four reservoirs with favorable properties and a production test showing promising flow rates.

Eni’s near-field exploration strategy in the Kutei basin proves successful with the Konta-1 well discovery, supporting plans to drill four more wells in 2026. Eni operates Muara Bakau PSC with an 88.33% interest, alongside Saka Energi. Eni and Petronas manage 19 blocks, including Muara Bakau, through a joint company.

Eni secures long-term liquefied natural gas sales agreements with Gulf Development Company and BOTAŞ, further strengthening its position in the market. The company’s deep knowledge of geological plays and advanced technologies contribute to the success of the Konta-1 well discovery, showcasing Eni’s commitment to value creation in the region.

Read more at Yahoo Finance: Eni announces new gas discovery at Konta-1 well offshore Indonesia