The Indonesian Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas) has announced that the Final Investment Decision (FID) for the US$15 billion (IDR253 trillion) Geng North and Gendalo–Gendang gas projects in East Kalimantan is expected to be signed by March 2026. This massive offshore development, a joint venture between Italy’s Eni SpA and Malaysia’s Petronas, follows the 2024 approval of the Plan of Development (PoD). The document will be officially submitted to the Minister of Energy and Mineral Resources, Bahlil Lahadalia, once the partnership agreement is finalized. The Geng North discovery is globally significant, ranking as one of the top three oil and gas exploration finds of 2023. Located in the North Ganal working area, the field holds estimated initial reserves of 5 trillion cubic feet (TCF) of gas, roughly equivalent to 609 million barrels of oil. This project represents a critical milestone for Indonesia’s energy sector, aiming to unlock vast deepwater resources to bolster national production and regional energy security.Source: https://industri.kontan.co.id/news/eni-dan-petronas-ditargetkan-meneken-fid-proyek-geng-north-us-15-miliar-pekan-depan (ICE GIACARTA)

Fonte notizia: KONTAN, 24 February 2026