March 18, 2026 [Reuters]- Italy’s ENI said it has reached a final investment decision for the development of ​the Geng North and Gendalo-Gendang gas projects, ‌located offshore in the Kutei Basin in Indonesia’s East Kalimantan province, within the Makassar Strait.

Here are some of the key points:

• Eni ​said in a statement late on Tuesday ​that the final investment decision (FID) was reached eighteen months ⁠after the projects were approved in 2024, “confirming the ​fast pace of the development of its deep-water ​gas projects.”
• The development plans for the Gendalo-Gendang fields include the drilling of seven producing wells, with another 16 to be drilled at ​the Geng North and Gehem Fields, the company ​said.
• “This is a key milestone that confirms the great cooperation ‌between ⁠Eni and the Indonesian government. Eni will provide material volumes of gas and LNG to support Indonesia’s long-term energy security needs,” Eni CEO Claudio Descalzi said.
• Once the ​two projects ​are completed ⁠by 2029, they will reach a peak production rate of 2 billion standard cubic feet ​per day (bscfd) of natural gas and 90,000 ​barrels ⁠of condensate per day, the company said.
• The projects will be managed by a new joint venture formed ⁠by ​Eni and Malaysian state energy ​firm Petroliam Nasional Bhd (Petronas) after both companies signed an agreement last year.