Overview
- NewCo will manage 19 assets, with 14 in Indonesia and five in Malaysia, combining the partners’ upstream portfolios.
- The venture plans to invest more than $15 billion over five years to develop about 3 billion boe and explore up to 10 billion boe of unrisked potential.
- Initial production exceeds 300,000 boe per day with a midterm target of roughly 500,000 boe per day driven by projects in Indonesia’s Kutei Basin and in Malaysia.
- The company will operate as a financially self-sufficient entity aligned with Eni’s regional satellite strategy.
- The binding agreement was signed at the ADIPEC conference in Abu Dhabi and now moves to regulatory and partner approvals ahead of an expected 2026 closing.