Eni to divest stakes in Indonesian gas hubs to Pertamina and Medco

Eni has agreed to sell interests in multiple offshore Indonesian production sharing contracts to Pertamina and Medco Energi, covering producing fields, major gas developments and recent discoveries that underpin the North Hub and South Hub growth projects.
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Oct. 12, 2026
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Why this news matters:

  • The transaction reshapes ownership of several producing fields and major gas developments that are central to Indonesia's future gas growth. 

  • The assets include recent discoveries that have added more than 10 tcf of gas resources and support future LNG supply opportunities. 

  • The deal expands Medco Energi's position in the prolific Kutei Basin while allowing Eni to further optimize its Indonesian portfolio.

 

Courtesy Eni
Jangkrik FPU offshore Indonesia

The Jangkrik floating production unit (FPU) operates offshore East Kalimantan, Indonesia. The facility is part of Eni’s Kutei Basin gas portfolio, which is included in the company's planned asset sale to Pertamina and Medco Energi.

Project at a glance:

  • Transaction: Eni asset divestments in Indonesia

  • Buyers: Pertamina and Medco Energi

  • Operator: Searah (Eni-Petronas JV)

  • Location: Kutei Basin, offshore East Kalimantan, Indonesia

  • Key assets: Merakes, East Merakes, Jangkrik, Geng North, Gehem, Geliga, Gendalo and Gandang

  • Status: Subject to regulatory approvals

Eni has signed two binding agreements with Pertamina and Medco Energi to sell percentages in various Indonesian upstream assets.

These are operated by Searah, the joint venture between Eni and Petronas.

Eni will sell its 10% interest in the East Sepinggan, North Ganal, and Rapak production sharing contracts (PSCs) in the Kutei Basin offshore East Kalimantan.

They include the producing Merakes and East Merakes gas fields and the Geng North–Gehem gas discoveries, both of which are under development for the North Hub gas project.

To Jakarta-based E&P company Medco, Eni will transfer its 10% stake in the West Ganal, East Ganal, Ganal and Muara Bakau PSCs.

In this case, the assets include the producing Jangkrik field; the Maha, Gendalo and Gandang gas projects, part of the South Hub development; and the recent giant gas discovery Geliga.

Drilling successes at Geliga and Geng North have proven more than 10 Tcf of gas and 650 MMbbl of condensate.

Indonesia gas portfolio highlights

  • Producing fields: Merakes, East Merakes, Jangkrik

  • Development projects: North Hub and South Hub

  • Recent discoveries: Geng North and Geliga

  • Resource additions: More than 10 Tcf of gas and 650 MMbbl of condensate proven through recent drilling

“This transaction complements our existing Indonesian portfolio and expands our presence into an established LNG value chain, supported by world-class infrastructure and operations,” Ronald Gunawan, CEO of Medc Energi, said in a separate announcement. “It strengthens our long-term production base through existing production and large gas developments under way, while providing substantial exploration upside from the highly prospective Kutei Basin, supported by recent exploration successes and a material inventory of future prospect.”

Completion of both transactions is subject to governmental and regulatory approvals.

Searah’s 19 gas-producing and development projects - 14 in Indonesia and five in Malaysia – currently deliver around 350,000 boe/d.

About the Author

Jeremy Beckman
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Jeremy Beckman

Staff Writer / Editor, Europe

Jeremy Beckman has been Editor Europe, Offshore since 1992. Prior to joining Offshore he was a freelance journalist for eight years, working for a variety of electronics, computing and scientific journals in the UK. He regularly writes news columns on trends and events both in the NW Europe offshore region and globally. He also writes features on developments and technology in exploration and production.

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