ESDM Minister: Eni to invest US$10b in East Kalimantan

Energy and Mineral Resources (ESDM) Minister Bahlil Lahadalia, stated that Italian energy multinational company Eni has expressed its readiness to invest US$10 billion (about Rp 150 trillion) in East Kalimantan Province.

"Eni's investment interest in East Kalimantan is towards the natural gas (natgas) production fields located offshore in the Makassar Strait, specifically the Jangkrik and Merakes Blocks," Bahlil said during the opening of the East Kalimantan Golkar Party Regional Conference in Samarinda City, East Kalimantan on July 19, 2025.

The planned investment by Eni, which operates in the exploration, production, and development of onshore and offshore hydrocarbons, is set to begin production by 2027.

Bahlil stated natgas production from the two adjacent fields is believed to be able to raise the domestic natgas industry's production to a level that meets the demand of the broader energy market, both domestically and for export.

He noted that the current global economic condition is not good due to political escalation and global tensions caused by wars in several parts of the world. Bahlil explained that these global tensions have also resulted in economic wars and tariff wars, such as those waged by the United States.

He added that the fact there are still European companies willing to invest in Indonesia, including to East Kalimantan, amid the heated international situation is good news, because it could accelerate national and local economic growth.

Bahlil said that Eni's planned investment would certainly improve economic growth and employment at both the local and national levels. Furthermore, efforts will be made to ensure that Eni transfers a portion of its participating interest (PI) to East Kalimantan Province, thereby increasing its revenue sharing fund (DBH).