Overview
- Eni and Petronas signed a binding agreement at ADIPEC to create a jointly owned company focused on upstream gas growth in Asia.
- The NewCo will combine 19 assets, including 14 in Indonesia and five in Malaysia, starting above 300,000 boe per day with a goal above 500,000.
- The venture outlines more than $15 billion of investments over five years spanning at least eight new projects and 15 exploratory wells.
- The development plan seeks to bring about 3 billion barrels of oil equivalent of discovered reserves into production while pursuing roughly 10 billion boe of low‑risk potential.
- Structured as a financially self‑sufficient satellite under Eni’s model, the company aims to leverage combined capabilities to scale in Asian gas markets and diversify supply.