<div id="readability-page-1"><div>(Alliance News) - Eni Spa announced on Tuesday a significant gas discovery in the Konta-1 exploration well, in the Muara Bakau PSC in the Kutei Basin, about 50 km off the coast of East Kalimantan in Indonesia.Preliminary estimates indicate 17 billion cubic meters of gas in place, with an additional potential of more than 28 billion cubic meters considering reservoirs not crossed by the well but with similar geological characteristics.Konta-1 was drilled to a depth of 4,575 meters in 570 meters of water and encountered gas in four Miocene reservoirs with good petrophysical properties. A production test yielded up to 900,000 cubic meters per day of gas and approximately 700 barrels per day of condensate. Based on the results, the total production potential of the well is estimated at up to 2.2 million cubic meters per day of gas and approximately 1,600 barrels per day of condensate.The discovery, located near existing infrastructure and close to previous discoveries, offers significant development synergies, with acceleration options already under evaluation. The find strengthens the exploration campaign in the Kutei Basin, which includes four more wells in 2026, and confirms the effectiveness of Eni's near-field strategy based on geological knowledge and advanced geophysical technologies.The Konta-1 discovery is located in the Muara Bakau PSC, where Eni is the operator and holds a stake of just over 88%, while Saka Energi holds the remaining approximately 12%.The block is one of 19 assets that will be transferred to the new joint venture between Eni and PETRONAS, which will invest over USD 15 billion over the next five years to develop at least eight new projects and drill 15 exploration wells, with the aim of developing 3 billion boe of discovered reserves and an exploration potential of 10 billion boe of unrisked reserves. The transaction is expected to close in 2026.Eni's stock is up 0.2% to EUR16.10 per share.By Antonio Di Giorgio, Alliance News reporterComments and questions to redazione@alliancenews.comCopyright 2025 Alliance News IS Italian Service Ltd. All rights reserved.</div></div>

EIPAF

Eni Spa announced a major gas discovery in the Konta-1 well in Indonesia's Kutei Basin, estimating 17 billion cubic meters of gas with potential for 28 billion more. The well shows promising production rates and development synergies. Eni holds an 88% stake in the Muara Bakau PSC, which will be part of a joint venture with PETRONAS investing USD 15 billion over five years. Eni's stock rose 0.2% to EUR16.10.

Eni discovers major gas field in Indonesia in the Konta-1 well