Eni has secured a 100% participating interest in the deepwater Sapukala Block offshore Indonesia, expanding its presence in the Kutei Basin near a cluster of gas-condensate discoveries containing more than 14 Tcf of gas in place.
The award further strengthens Eni's position in one of Southeast Asia's most active deepwater exploration and gas development regions.
The block, in water depths of 1,000-2,500 m, is adjacent to Eni's existing acreage and close to the future North Hub gas-condensate developments operated by Searah, a joint venture owned 50% by Eni and 50% by Petronas. Nearby discoveries including Geng North, Gehem, Gula and Geliga contain more than 14 Tcf of gas in place and about 800 MMbbl of condensate and are expected to support future gas supply growth in Indonesia.
Eni identified exploration potential in the Sapukala acreage through a joint study conducted with an Indonesian academic institution in accordance with local regulatory requirements. The company has since completed a new seismic acquisition campaign covering the block.
Eni has operated in Indonesia since 2001 and currently operates the Peri-Mahakam and Makassar Strait blocks. Through Searah, the company also has a portfolio of 19 producing and development assets across Indonesia and Malaysia. Current production is about 350 kboe/d, with a target of exceeding 500 kboe/d by 2028.
Rig contract extends into December
Separately, Searah subsidiaries Searah West Ganal and Searah Ganal Deepwater have added the JKNE Upside-1 Dir well to their contract with Ventura Offshore Holding for the deepwater semisubmersible drilling rig, SSV Catarina.
The additional well, beyond four previously exercised optional wells, is expected to keep the rig working through December. Ventura estimates the value at about $21.7 million.
