Gotrade News - Italian energy giant ENI announced the discovery of a massive 5 trillion cubic feet (TCF) gas reserve in East Kalimantan, Indonesia. The find came through the Geliga-1 exploration well in the Ganal Block, Kutai Basin, approximately 70 kilometers offshore.
Indonesia's Energy Minister Bahlil Lahadalia revealed the discovery at a press conference on Monday (Apr 20). The well also contains an estimated 300 million barrels of condensate, according to Kumparan.
Key Takeaways:
- Geliga-1 holds 5 TCF of gas with 300 million barrels of condensate, production targeted from 2028
- Condensate output projected at 90,000 bpd in 2028, rising to 150,000 bpd by 2029-2030
- Combined reserves with the Gula Block reach 7 TCF, strengthening Indonesia energy security
The Geliga-1 well was drilled to approximately 5,100 meters in 2,000 meters of seawater. Results revealed thick gas layers with excellent reservoir quality, according to Bloomberg Technoz.
Condensate production from the block is targeted at 90,000 barrels per day starting in 2028. Output could increase to 150,000 barrels daily during the 2029-2030 period, according to Liputan6.
Gas production from ENI's operational area currently sits at 600-700 MMSCFD. Target output will rise significantly to 2,000 MMSCFD by 2028 and 3,000 MMSCFD by 2030.
Beyond Geliga-1, the area includes the Gula Block with an estimated 2 TCF of gas and 75 million barrels of condensate. Combined output from both blocks could deliver an additional 1,000 MMSCFD of gas and 80,000 barrels of condensate daily.
Infrastructure development includes a new floating production storage and offloading (FPSO) facility with 1 billion cubic feet daily capacity. The project will also connect to existing Bontang LNG plant infrastructure.
ENI operates the Ganal Block with an 82% stake, while China's Sinopec holds the remaining 18%. The discovery continues ENI's string of exploration successes in the region since the Geng North find in 2023.
Bahlil added that total new reserves from both blocks reach 7 TCF overall. The discovery supports Indonesia's push to reduce energy import dependence and strengthen national gas reserves.
