Eni Sanctions Indonesia Deepwater Gas Projects
Analysis based on 10 articles · First reported Mar 18, 2026 · Last updated Mar 23, 2026
The Final Investment Decisions by Eni for major gas projects in Indonesia are expected to significantly boost gas and condensate production, enhancing global energy security. This development, leveraging existing infrastructure and involving a business combination with Petronas, is likely to positively impact the stock prices of both Eni and Petronas, and strengthen Indonesia's position as an energy supplier.
Eni has taken Final Investment Decisions (FIDs) for the Gendalo and Gandang gas project (South Hub) and for the Geng North and Gehem fields (North Hub) offshore East Kalimantan, Indonesia. These projects, approved in 2024, are expected to deliver up to 2 bscfd of gas and 90,000 bpd of condensate at plateau by 2029, with startup targeted for 2028. The developments will utilize existing infrastructure, including the Jangkrik Floating Production Unit and the Indonesia===Bontang liquefaction plant, and involve new subsea production systems and an FPSO. The combined resources are estimated at nearly 10 Tcf of gas and 550 million barrels of associated condensate. The gas will supply both domestic and international markets, supporting Indonesia's energy security. These projects are also intended to be part of Eni's ongoing business combination with Petronas.
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