Searah Commences Development of Floating Gas Plant in Indonesia's North Hub Project
Searah, the joint venture between Eni (ENI.MI) and Petronas (4768.KL), has initiated construction on a floating gas processing facility as part of its $11.8 billion North Hub project in Indonesia’s Kutai Basin. The FPSO vessel will serve 16 wells across Geng North and Gehem fields, with production expected to start by late 2028. It aims for an output of one billion cubic feet of gas per day and 80,000 barrels of condensate daily. The Indonesian upstream regulator SKK Migas has allocated $2.9 billion specifically for the FPSO development out of the total investment. Eni North Ganal recently secured a contract with Saipem (SPM.MI) through its subsidiary in Indonesia to handle engineering, procurement, construction and installation tasks related to this project. Earlier in April 2026, Eni discovered approximately five trillion cubic feet of gas at the Geliga-1 exploration well within the Ganal block. This development underscores continued confidence from international energy firms in Indonesia’s upstream sector.
Topics: FPSO gas production infrastructure development North Hub project