Italian energy company Eni has secured a new deepwater exploration licence in Indonesia’s Kutei Basin after being awarded the Sapukala block with a 100% participating interest.
The block was granted through the first Indonesia Petroleum Bidding Round 2026.
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Located offshore East Kalimantan, the Sapukala acreage sits at water depths ranging from 1,000m to 2,500m. It is located near Eni’s existing operated and participated blocks and close to the planned North Hub developments.
These developments are now managed by Searah, a joint venture (JV) formed in June 2026 between Eni and Petronas, each holding a 50% stake.
The North Hub developments include the Geng North, Gehem, Gula and Geliga gas and condensate discoveries, which collectively contain more than 14 trillion cubic feet of gas in place and 800 million barrels of condensate.
The award followed a joint study conducted with a prominent Indonesian academic institution, in line with local regulatory requirements, and participation in a direct offer bid round.
Based on the study, the acreage is considered highly prospective. Eni has also recently completed a new seismic data acquisition programme covering the Sapukala block, which the company said would support accelerated evaluation.
Eni’s presence in Indonesia dates back to 2001 and it currently holds direct operatorship of the Peri-Mahakam and Makassar Strait blocks.
Since June 2026, its Searah JV with Petronas has brought together the two companies’ portfolios across Indonesia and Malaysia, encompassing 19 gas-producing and development assets, 14 in Indonesia and five in Malaysia.
Searah currently produces around 350,000 barrels of oil equivalent per day (boepd) and aims to exceed 500,000boepd by 2028.
Separately, Eni recently completed the sale of a 10% stake in the Baleine project in Côte d’Ivoire to SOCAR.
Baleine, the country’s main offshore development, is held by Eni with 37.25%, Vitol with 30%, SOCAR with 10% and Petroci with 22.75%.
The transaction follows the company’s strategy of monetising exploration discoveries through equity divestments, a model it refers to as the “dual exploration model”.
The Baleine field was discovered in 2021 and reached production in 2023.
Eni has been present in Côte d’Ivoire since 2015.
