BAKU, Azerbaijan, September 24. Italian energy
company Eni has been awarded a 100% participating interest in the
Sapukala offshore block in Indonesia’s Kutei Basin as part of the
first Indonesia Petroleum Bidding Round 2026, the company said.
The award follows a joint study conducted with an Indonesian
academic institution in line with local regulatory requirements, as
well as Eni’s participation in the direct offer bid round.
The Sapukala block covers a large deep-water area in the Kutei
Basin, off East Kalimantan, at water depths ranging from 1,000 to
2,500 meters.
The block is located near Eni’s existing operated and
participated acreage and the future North Hub developments operated
by Searah, a 50:50 joint venture between Eni and Petronas.
The North Hub includes the Geng North, Gehem, Gula and Geliga
gas and condensate discoveries, which together contain more than 14
trillion cubic feet (Tcf) of gas in place and around 800 million
barrels of condensate, according to Eni.
"Based on the study conducted, the acreage is considered highly
prospective," Eni said.
The company has recently completed a new seismic data
acquisition program covering the Sapukala block, providing the
basis for an accelerated evaluation of its exploration potential.
Eni has operated in Indonesia since 2001 and currently directly
operates the Peri-Mahakam and Makassar Strait blocks.
In June 2026, Eni and Petronas established Searah, with each
company holding a 50% stake. The company combines the two groups’
portfolios, capabilities and regional expertise to pursue long-term
value creation and operational excellence across Indonesia and
Malaysia.
Searah currently has a portfolio of 19 gas-producing and
development assets, including 14 in Indonesia and five in Malaysia.
The company produces around 350,000 barrels of oil equivalent per
day (boe/d) and aims to increase sustainable production to more
than 500,000 boe/d by 2028.
