Eni announces a new important discovery in the Indonesian offshore, consolidating its leading position among the global energy majors. The Geliga-1 exploratory well, drilled in the Ganal block within the prolific Kutei basin, approximately 70 kilometers from the coast of East Kalimantan, has intercepted reserves estimated at approximately 140 billion cubic meters of gas in place and 300 million barrels of condensates.
The size of the well
To understand the scope of the discovery, it is sufficient to consider that the reserves estimated in the entire Italian subsoil amount to approximately 40 billion extractable cubic metres. Eni’s recent discoveries in Libya, such as the Bahr Essalam South 2 and Bahr Essalam South 3 wells, have yielded over 28 billion cubic meters. The Geliga-1 field exceeds Italian reserves five times and Libyan reserves almost three times, placing it among the most significant exploration results of recent years in the natural gas sector.
The well was drilled to a total depth of approximately 5,100 metres, starting from the seabed at a depth of 2,000 metres. A production test is now planned to evaluate its actual productivity. According to what was declared by Eni:
the large Geliga gas discovery confirms the strategic potential of the Kutei basin, in Indonesia, and makes significant new volumes available for national and international markets.
The other discovered deposits
Geliga-1 is the latest in a series of discoveries made by Eni in Indonesia. In 2023, the Geng North deposit was identified, just 20 kilometers south of Geliga. In December 2025, news of the Konta-1 well arrived. Over the past six months, the group has successfully drilled another four exploratory wells in the same area. Eni lets it be known that the campaign will not stop here:
the exploration campaign will continue with a further well expected in 2026 and two wells in 2027.
Geliga-1 is located adjacent to the Gula field, also undeveloped, with approximately 56 billion cubic meters of gas in place and 75 million barrels of condensates. Initial assessments indicate that the combined Geliga and Gula resources could produce an additional 28 million cubic meters per day of gas and 80,000 barrels of condensates. This opens the way for a third production hub in the Kutei basin, to be built in an accelerated timeframe by replicating the model of the North Hub project already underway.
Eni in Indonesia, 90,000 barrels per day
Eni has been present in Indonesia since 2001 and today produces approximately 90,000 barrels of oil equivalent per day, mainly from the Jangkrik and Merakes fields offshore East Kalimantan. The Geliga discovery further consolidates this presence, confirming the country among the pillars of the group’s exploration and production strategy (upstream). The Ministry of Economy and Finance, also through Cassa Depositi e Prestiti, holds an overall share of approximately 30% of Eni.
On the market front, the news arrived in a context marked by strong volatility and geopolitical tensions. The Eni stock reacted positively on Piazza Affari, closing the session at 22.30 euros with an increase of 2.5%, among the best on the list, supported both by the extent of the discovery and by the trend of crude oil.
