Eni in the Kutei Basin – from LASMO foothold to a multi-hub gas business

(Originally posted on 15 July 2026)

At first glance, Eni’s position in the Kutei Basin could appear to be the product of recent M&A moves and successful exploration, with headlines dominated by:

• The corporate acquisition of Neptune and the acquisition of Chevron’s Indonesia assets
• Large gas discoveries, including Geng North and Geliga
• The creation of the Searah JV with PETRONAS.

However, the reality is very different, with its position today being the result of a much longer sequence of acreage acquisition, exploration, infrastructure-led development and portfolio consolidation.

This article examines the history of Eni in the Kutei Basin, from its initial entry through to the formation of the Searah JV with PETRONAS. It will also consider the visible development plans.