Eni announces the start of operations at the Venezuela’s supergiant Junín-5 field, less than two months after the signing of the “Contrato de Participación Productiva de Hidrocarburos” on 2 September, in the presence of Acting President Delcy Rodriguez and Eni CEO Claudio Descalzi, in the context of the visit to Caracas by US Secretary of Energy Chris Wright.
Eni is the sole Operator of the project, with full responsibility for technical, financial and commercial management. Located in Venezuela’s Orinoco Belt, Junín-5 is a supergiant onshore heavy oil field, containing 35 billion barrels of certified oil in place.
The development plan includes the restoration of abandoned wells and intensive drilling campaign for new wells. Phase 1 will lead to a significant production growth, reaching 200,000 barrels per day by 2028. The project will also leverage existing infrastructure in the area, optimizing execution timelines and investments.
The rapid start of activities at the Junín-5 field was made possible by the support of the Ministry of Hydrocarbons and PDVSA. The development of the field is a cornerstone of Eni’s strategy to expand its upstream presence in Venezuela and will make it possible to enhance the substantial potential of one of the country’s most significant oil-producing areas under the new contractual framework.
In Venezuela, Eni is also engaged in the development of natural gas projects. In particular, through the company “Cardón IV”, equally owned by Eni and Repsol, Eni operates the Perla field in the Cardón IV license, the largest offshore gas field discovered in Latin America. Cardón IV recently signed the Sustainability Agreement, which provides for continuing, in a sustainable manner, and relaunching Perla’s production, increasing the volumes destined for the domestic market and defining the conditions for additional future gas exports.
Eni also holds a stake in the joint venture PetroSucre (PDVSA 74%, Eni 26%), which operates the Corocoro offshore oil field, and a stake in Supermetanol, a petrochemical company active in the production of methanol.
Eni has been present in Venezuela since 1998. The Company holds six mining licenses in the country, located offshore in the Gulf of Venezuela and the Gulf of Paria, and onshore in the Orinoco region. In 2025, Eni’s share of hydrocarbon production in the country was 64 thousand boe/day, mainly from the Perla gas field, which accounts for about 35% of the total gas consumed in the country.
Friday, 30 October 2026
Eni announces start-up of gas production from the Maha field offshore Indonesia
Eni announces the start-up of gas production from the Maha field in the Kutei Basin, offshore Indonesia, just 21 months after the final investment decision (FID).
Located in the West Ganal block at a water depth of approximately 1,000 m, the field comprises two subsea production wells connected to the existing Jangkrik Floating Production Unit (FPU) by approximately 12 km of flowlines. Following initial processing onboard the FPU, the gas will be transported through the pipeline network to supply the domestic market and the Bontang liquefaction plant, which supplies LNG to both domestic and export markets.
The field can produce 250 million standard cubic feet per day (MMSCFD), bringing combined production from the Jangkrik FPU and the South Hub to a plateau of 750 MMSCFD. The Gendalo & Gendang project’s expected start-up and tie-in to the Jangkrik FPU in 2028 will extend this plateau beyond the end of the decade.
The Maha gas field, now operated by Searah, the independent upstream energy company established through the strategic partnership between Eni and PETRONAS, marks a further milestone in the development of Eni’s activities in Indonesia’s Kutei Basin and reflects the company’s expertise in exploration and fast-track project delivery.
Together with the final investment decisions announced in March 2026 for the North Hub (Geng North & Gehem) and South Hub (Gendalo & Gendang) projects, the timely execution and start-up of production at Maha, following the start-up of Merakes East in May 2025, underscore Eni’s broader strategy to efficiently develop the gas resources discovered in Indonesia’s prolific Kutei Basin, supporting the nation’s long-term energy security and export capacity.
Maha is a key component of the South Hub development and the monetization of Indonesia’s offshore gas resources.
These results reflect the close cooperation and shared objectives of all stakeholders involved, including Searah, its shareholders, and SKK Migas, Indonesia’s upstream oil and gas regulator.
Eni directly operates the Peri-Mahakam PSC, the Makassar Strait PSC and the recently awarded Sapukala block. In October 2026, Eni also signed two binding agreements to sell interests to Pertamina and Medco in selected Indonesian upstream assets operated by Searah.
Established in June 2026, Searah is jointly owned by Eni and PETRONAS, each holding a 50% interest. The company combines complementary portfolios, capabilities and regional expertise to deliver long-term value creation and operational excellence across Indonesia and Malaysia. Its portfolio comprises 19 gas-producing and development assets, including 14 in Indonesia and 5 in Malaysia. Searah currently produces approximately 350 kboe/d and aims to exceed 500 kboe/d of sustainable production by 2028.
Located in the West Ganal block at a water depth of approximately 1,000 m, the field comprises two subsea production wells connected to the existing Jangkrik Floating Production Unit (FPU) by approximately 12 km of flowlines. Following initial processing onboard the FPU, the gas will be transported through the pipeline network to supply the domestic market and the Bontang liquefaction plant, which supplies LNG to both domestic and export markets.
The field can produce 250 million standard cubic feet per day (MMSCFD), bringing combined production from the Jangkrik FPU and the South Hub to a plateau of 750 MMSCFD. The Gendalo & Gendang project’s expected start-up and tie-in to the Jangkrik FPU in 2028 will extend this plateau beyond the end of the decade.
The Maha gas field, now operated by Searah, the independent upstream energy company established through the strategic partnership between Eni and PETRONAS, marks a further milestone in the development of Eni’s activities in Indonesia’s Kutei Basin and reflects the company’s expertise in exploration and fast-track project delivery.
Together with the final investment decisions announced in March 2026 for the North Hub (Geng North & Gehem) and South Hub (Gendalo & Gendang) projects, the timely execution and start-up of production at Maha, following the start-up of Merakes East in May 2025, underscore Eni’s broader strategy to efficiently develop the gas resources discovered in Indonesia’s prolific Kutei Basin, supporting the nation’s long-term energy security and export capacity.
Maha is a key component of the South Hub development and the monetization of Indonesia’s offshore gas resources.
These results reflect the close cooperation and shared objectives of all stakeholders involved, including Searah, its shareholders, and SKK Migas, Indonesia’s upstream oil and gas regulator.
Eni directly operates the Peri-Mahakam PSC, the Makassar Strait PSC and the recently awarded Sapukala block. In October 2026, Eni also signed two binding agreements to sell interests to Pertamina and Medco in selected Indonesian upstream assets operated by Searah.
Established in June 2026, Searah is jointly owned by Eni and PETRONAS, each holding a 50% interest. The company combines complementary portfolios, capabilities and regional expertise to deliver long-term value creation and operational excellence across Indonesia and Malaysia. Its portfolio comprises 19 gas-producing and development assets, including 14 in Indonesia and 5 in Malaysia. Searah currently produces approximately 350 kboe/d and aims to exceed 500 kboe/d of sustainable production by 2028.
Monday, 26 October 2026
Eni launches the execution phase of Cronos project
Eni has signed the main engineering, procurement, construction and drilling contracts for the development of the Cronos Project, marking the start of the project's execution phase and a key milestone towards the monetization of Cyprus' first gas development.
The execution phase was formally launched today in Nicosia during a ceremony attended by the President of the Republic of Cyprus, Nikos Christodoulides, the Minister of Energy, Commerce and Industry of the Republic of Cyprus Michael Damianos, and Eni Chief Operating Officer Global Natural Resources, Guido Brusco.
The awarded contracts include Floating Control Unit, Transportation and Installations, offshore sealines, Subsea Production System, flexible lines, Umbilicals, onshore line EPC, Drilling rig services. This follows the Final Investment Decision (FID) reached on 28 July 2026 for the development of the Cronos gas discovery in Block 6 offshore Cyprus. Based on gas resources estimated at more than 3 trillion cubic feet (TCF) of gas initially in place, the project is expected to reach a production plateau of up to 500 million standard cubic feet per day (mmscf/d), with start-up expected in H1 2028.
The development will leverage a fast-track approach based on regional integration and the use of existing infrastructure. Gas produced from Cronos will be transported to Egypt, where it will be processed through existing facilities, including the Zohr infrastructure, before being liquefied at the Damietta LNG plant for export to international markets, primarily Europe.
As Eni's first development project in Cyprus and the country's first hydrocarbon development, Cronos represents a strategic milestone for the Republic of Cyprus. The project will support the country's emergence as a natural gas producer and exporter while strengthening the integration of energy systems across the Eastern Mediterranean using existing Egyptian gas and LNG infrastructure.
Eni has been present in Cyprus since 2013. Block 6 is operated by Eni with a 50% interest, alongside partner TotalEnergies. In Cyprus, Eni also operates Block 8 and holds participating interests in Blocks 7 and 11, which are operated by TotalEnergies.
The execution phase was formally launched today in Nicosia during a ceremony attended by the President of the Republic of Cyprus, Nikos Christodoulides, the Minister of Energy, Commerce and Industry of the Republic of Cyprus Michael Damianos, and Eni Chief Operating Officer Global Natural Resources, Guido Brusco.
The awarded contracts include Floating Control Unit, Transportation and Installations, offshore sealines, Subsea Production System, flexible lines, Umbilicals, onshore line EPC, Drilling rig services. This follows the Final Investment Decision (FID) reached on 28 July 2026 for the development of the Cronos gas discovery in Block 6 offshore Cyprus. Based on gas resources estimated at more than 3 trillion cubic feet (TCF) of gas initially in place, the project is expected to reach a production plateau of up to 500 million standard cubic feet per day (mmscf/d), with start-up expected in H1 2028.
The development will leverage a fast-track approach based on regional integration and the use of existing infrastructure. Gas produced from Cronos will be transported to Egypt, where it will be processed through existing facilities, including the Zohr infrastructure, before being liquefied at the Damietta LNG plant for export to international markets, primarily Europe.
As Eni's first development project in Cyprus and the country's first hydrocarbon development, Cronos represents a strategic milestone for the Republic of Cyprus. The project will support the country's emergence as a natural gas producer and exporter while strengthening the integration of energy systems across the Eastern Mediterranean using existing Egyptian gas and LNG infrastructure.
Eni has been present in Cyprus since 2013. Block 6 is operated by Eni with a 50% interest, alongside partner TotalEnergies. In Cyprus, Eni also operates Block 8 and holds participating interests in Blocks 7 and 11, which are operated by TotalEnergies.
Tuesday, 6 October 2026
McDermott Awarded Subsea Contract for Cronos Development in Cyprus
McDermott has been awarded a substantial* subsea contract by Eni Cyprus Limited (Eni) for the Cronos gas field development offshore Cyprus, marking McDermott's first subsea project award with Eni and expanding the company's presence in the Eastern Mediterranean region.
Under the contract, McDermott will provide project management, engineering, procurement and installation support for the development of the Cronos gas field.
"This award demonstrates the strength of McDermott's integrated subsea engineering, procurement, construction and installation capabilities and reflects the value we bring through our technical expertise and differentiated deepwater asset, the Amazon," said Mahesh Swaminathan, McDermott's Senior Vice President, Subsea and Floating Facilities. "Our global execution teams, supported by reliable local partnerships, will help advance the Cronos development safely and efficiently."
The project will be executed by the Subsea and Floating Facilities team with expertise and resources from Houston, Perth, London and Kuala Lumpur, supported by the company's marine construction fleet.
The President of the Republic of Argentina, Javier Milei, meets Eni CEO Claudio Descalzi
The President of the Republic of Argentina, Javier Milei, met today in Paris with Eni Chief Executive Officer Claudio Descalzi on the sidelines of the institutional and industrial events organized as part of Argentina Week. During the meeting, the parties discussed prospects for cooperation in the energy sector and investment opportunities in Argentina, with particular focus on the development of the country’s gas resources and projects aimed at strengthening its role in international energy markets.
The meeting provided an opportunity to take stock of the Argentina LNG project, developed by Eni together with YPF and XRG, that aims to exploit the resources of the Vaca Muerta basin through floating liquefaction solutions (FLNG). The project, for which an investment decision is expected by the end of the year, envisages, in an initial phase the production of 12 million tonnes of liquefied natural gas per year (MTPA), through two FLNG facilities with a capacity of 6 MTPA each. Start-up of production is planned in 2030. A subsequent expansion to 18 MTPA is currently under evaluation.
Argentina LNG is one of the most important energy projects currently under development globally; it involves significant investments and represents a strategic initiative to support the growth of the country’s energy exports and contribute to the security of European energy supplies.
The discussion also reaffirmed the importance of promoting a stable and investment-friendly framework for long-term investments, an essential condition for the development of large-scale energy infrastructure projects and for maximizing the value of Argentina’s natural resources.
Eni has been present in Argentina at various stages since 1968. The company operates in the country in the hydrocarbons exploration and production sector and is a partner of YPF and XRG in the development of the integrated Argentina LNG project, which includes a 32% interest in the upstream blocks Meseta Buena Esperanza, Aguada Villanueva and Las Tacanas, in the Vaca Muerta basin.
The meeting provided an opportunity to take stock of the Argentina LNG project, developed by Eni together with YPF and XRG, that aims to exploit the resources of the Vaca Muerta basin through floating liquefaction solutions (FLNG). The project, for which an investment decision is expected by the end of the year, envisages, in an initial phase the production of 12 million tonnes of liquefied natural gas per year (MTPA), through two FLNG facilities with a capacity of 6 MTPA each. Start-up of production is planned in 2030. A subsequent expansion to 18 MTPA is currently under evaluation.
Argentina LNG is one of the most important energy projects currently under development globally; it involves significant investments and represents a strategic initiative to support the growth of the country’s energy exports and contribute to the security of European energy supplies.
The discussion also reaffirmed the importance of promoting a stable and investment-friendly framework for long-term investments, an essential condition for the development of large-scale energy infrastructure projects and for maximizing the value of Argentina’s natural resources.
Eni has been present in Argentina at various stages since 1968. The company operates in the country in the hydrocarbons exploration and production sector and is a partner of YPF and XRG in the development of the integrated Argentina LNG project, which includes a 32% interest in the upstream blocks Meseta Buena Esperanza, Aguada Villanueva and Las Tacanas, in the Vaca Muerta basin.
Eni completes sale of 10% stake to SOCAR in Cote d’Ivoire's Baleine project
Eni announces the completion of the sale of a 10% stake in the Baleine project in Côte d’Ivoire to SOCAR. The Baleine project is the country’s main offshore development and is now owned by Eni (37.25%), Vitol (30%), Socar (10%) and Petroci (22.75%).
The transaction aligns with Eni's strategy of optimising its upstream portfolio by accelerating the monetization of exploration discoveries through the divestment of equity stakes, a model known as the "dual exploration model."
Eni has been present in Cote d’Ivoire since 2015. Baleine is Eni’s first development in the country, and the first net-zero development in Africa. The giant Baleine field was discovered in 2021, two decades after the last commercial discovery in the country and it achieved production in record time, in 2023. Currently, Baleine produces over 57,000 barrels of oil and more than 78 million cubic feet of gas per day from Phases 1 and 2. With the launch of Phase 3, production is expected to rise to 150,000 barrels of oil and 200 million cubic feet of gas per day, positioning Baleine as a cornerstone in meeting the country's domestic energy needs. Alongside Baleine, the Calao and Calao South discoveries (Eni 90% and operator), the second largest after Baleine, confirm the high potential of the basin and further consolidates Eni's presence in the country.
The transaction aligns with Eni's strategy of optimising its upstream portfolio by accelerating the monetization of exploration discoveries through the divestment of equity stakes, a model known as the "dual exploration model."
Eni has been present in Cote d’Ivoire since 2015. Baleine is Eni’s first development in the country, and the first net-zero development in Africa. The giant Baleine field was discovered in 2021, two decades after the last commercial discovery in the country and it achieved production in record time, in 2023. Currently, Baleine produces over 57,000 barrels of oil and more than 78 million cubic feet of gas per day from Phases 1 and 2. With the launch of Phase 3, production is expected to rise to 150,000 barrels of oil and 200 million cubic feet of gas per day, positioning Baleine as a cornerstone in meeting the country's domestic energy needs. Alongside Baleine, the Calao and Calao South discoveries (Eni 90% and operator), the second largest after Baleine, confirm the high potential of the basin and further consolidates Eni's presence in the country.
Thursday, 24 September 2026
TotalEnergies launches the Ima Gas Development to Supply Nigeria LNG liquefaction plant
TotalEnergies (40%, operator), together with its partner AMNI (60%), have taken the Final Investment Decision (FID) for the development of the Ima gas field, straddling the OML 112 and 117 offshore licenses in Nigeria.
Located in shallow waters close to Bonny Island, the Ima gas field will be developed with a single platform, connected through a 22 km pipeline to Nigeria LNG (15%, TotalEnergies). Production start-up is expected in 2028, with a plateau of 350 million cubic feet per day (representing over 60,000 barrels of oil equivalent per day). Once on stream, the Ima field will supply about one-third of the gas required for the ongoing Nigeria LNG Train 7 expansion project, which will increase the liquefaction plant capacity from 22 million tons per annum (Mtpa) to 30 Mtpa.
Ima is a low-cost and low-emissions development, with a simplified platform design, electric power supply from shore, no flaring, and permanent methane detection and monitoring.
Developed in partnership with the Nigerian company AMNI, Ima project is characterized by strong Nigerian content, with all key contractors being local companies. It will also contribute to local community development, with around 60% of the workforce expected to be sourced from host communities during the project development.
“We are very pleased to announce the FID for the Ima gas project, marking a new milestone in the deployment of our integrated gas strategy in Nigeria. After the Ubeta project sanctioned in 2024 and expected to start-up next year, Ima demonstrates again our ability to unlock new low-cost and low-emissions gas resources, following the incentives introduced by the Nigerian Government for non-associated gas developments”, said Nicolas Terraz, President Exploration & Production at TotalEnergies. “This new project will contribute significantly to Nigeria LNG gas supply and create lasting value for its partners and for Nigeria.”
Located in shallow waters close to Bonny Island, the Ima gas field will be developed with a single platform, connected through a 22 km pipeline to Nigeria LNG (15%, TotalEnergies). Production start-up is expected in 2028, with a plateau of 350 million cubic feet per day (representing over 60,000 barrels of oil equivalent per day). Once on stream, the Ima field will supply about one-third of the gas required for the ongoing Nigeria LNG Train 7 expansion project, which will increase the liquefaction plant capacity from 22 million tons per annum (Mtpa) to 30 Mtpa.
Ima is a low-cost and low-emissions development, with a simplified platform design, electric power supply from shore, no flaring, and permanent methane detection and monitoring.
Developed in partnership with the Nigerian company AMNI, Ima project is characterized by strong Nigerian content, with all key contractors being local companies. It will also contribute to local community development, with around 60% of the workforce expected to be sourced from host communities during the project development.
“We are very pleased to announce the FID for the Ima gas project, marking a new milestone in the deployment of our integrated gas strategy in Nigeria. After the Ubeta project sanctioned in 2024 and expected to start-up next year, Ima demonstrates again our ability to unlock new low-cost and low-emissions gas resources, following the incentives introduced by the Nigerian Government for non-associated gas developments”, said Nicolas Terraz, President Exploration & Production at TotalEnergies. “This new project will contribute significantly to Nigeria LNG gas supply and create lasting value for its partners and for Nigeria.”
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