Eni and PETRONAS Sign JV Deal to Combine Asia Oil & Gas Assets

Key Takeaways Eni has signed a 50:50 joint venture agreement with PETRONAS to merge upstream assets in Asia. The new entity will hold 3B boe in reserves and aims for 500K boepd output, mainly from natural gas. The venture targets over 50 TCF of low-risk gas and 10B boe in exploration across Indonesia and Malaysia.Italian energy major Eni S.p.A. (E) has signed a major Framework Agreement with Malaysian state energy giant PETRONAS to merge their upstream oil and gas assets in Indonesia and Malaysia, paving ...