Business · Energy & Commodities · 1 hr ago
Eni agrees to sell 10% stakes in Indonesian gas assets
Eni has signed agreements to sell 10% stakes in several oil and gas assets in Indonesia.
The assets are operated by Searah, a joint venture owned equally by Eni and Malaysia’s Petronas.
Indonesia’s state energy company Pertamina will acquire Eni’s stakes in three areas, which include producing gas fields and discoveries being developed through the North Hub project.
Energy company Medco will acquire Eni’s stakes in four other areas, including the producing Jangkrik field and projects in the South Hub.
The assets are in the Kutai Basin, where recent discoveries have helped draw industry interest.
Eni said the discoveries identified more than 10 trillion cubic feet of gas and 650 million barrels of condensate.
Both sales still need the usual government and regulatory approvals.
Eni has signed binding agreements to sell 10% stakes in Indonesian gas assets to Pertamina and Medco.
Pertamina will acquire Eni’s stakes in three production-sharing contracts, while Medco will acquire stakes in four others.
The assets include producing gas fields, projects under development and recent discoveries in the Kutai Basin.
Eni said discoveries at Geng North and Geliga identified resources of more than 10 trillion cubic feet of gas and 650 million barrels of condensate.
The deals require customary government and regulatory approvals.
- Who
- Eni is selling the stakes to Indonesia’s Pertamina and Southeast Asian energy company Medco.
- What
- Eni signed binding agreements to sell 10% stakes in seven Indonesian production-sharing contracts.
- When
- The agreements were announced on October 12, 2026.
- Where
- The assets are in Indonesia’s Kutai Basin.
- Why
- Eni said its exploration and development work created significant value and attracted strong industry interest in the assets.
This story does not have two clearly opposing sides.
the recent exploration successes at Geng North and Geliga have allowed the identification of resources of over 10 Tcf of gas and 650 million barrels of condensate
Eni announced final investment decisions for the North Hub and South Hub projects.
Eni announced binding agreements to sell stakes in the Indonesian assets to Pertamina and Medco.
- Pertamina assets
- 10% stakes in East Sepinggan, North Ganal and Rapak
- Medco assets
- 10% stakes in West Ganal, East Ganal, Ganal and Muara Bakau
- Geng North and Geliga
- More than 10 Tcf of gas and 650 million barrels of condensate identified
- Approval condition
- Customary government and regulatory approvals are required for both deals
Sources
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