Core Insights - Eni has made a significant gas discovery at the Konta-1 exploration well, estimating initial gas reserves of 600 billion cubic feet (bcf) with potential to exceed 1 trillion cubic feet (tcf) [1][3] Exploration Details - The Konta-1 well was drilled to a depth of 4,575 meters in water depths of 570 meters, encountering gas in four separate Miocene-age sandstone reservoirs [2] - A well production test recorded a flow rate of up to 31 million standard cubic feet per day (mscf/d) of gas and approximately 700 barrels per day (bpd) of condensate [2] - Based on data from the production test, the well has a potential multi-pool gas rate of up to 80 mscf/d and around 1,600 bpd of condensate [3] Strategic Implications - Eni's discovery supports its near-field exploration strategy in the Kutei basin, leveraging geological knowledge and advanced geophysical technologies [4] - The company plans to drill four additional wells in the Kutei basin in 2026, indicating a commitment to further exploration and development in the area [4] Operational Context - The Konta-1 well is part of the Muara Bakau production sharing contract (PSC), where Eni holds an 88.33% interest, with Saka Energi holding 11.66% [5] - Muara Bakau is one of 19 blocks managed by a joint company established by Eni and Petronas, with recent long-term liquefied natural gas sales agreements signed with Gulf Development Company and BOTAŞ [5]