The company will purchase 1.4 million tons of LNG per annum starting 2017.
Eni CEO Claudio Descalzi said: "The signing of these agreements represents a key milestone for the Jangkrik field development project.
"It is one of the first deep-water gas projects in Indonesia being developed under a fast track scheme, and confirms Eni’s commitment in supplying gas for the development of the Indonesian domestic market."
The Jangkrik fields development project comprises Jangkrik and Jangkrik North-East fields, which were discovered in the Muara Bakau block in 2009 and 2011, respectively.
Eni operates the block with 55% working interest, while GDF Suez Exploration Indonesia, a subsidiary of Engie, owns 33.33% and Saka Energi Muara Bakau holds 11.66%.
Located at a depth of 400m in the Makassar Strait, the fields will be linked to a floating production unit for gas and condensate treatment.
The gas will be transported through subsea pipeline to the Bontag Terminal. Eni expects to commence production at the fields in 2017.
