12:51 - 24.06.2025

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June 24, Fineko/abc.az. Italy's Eni and Malaysia's Petronas have signed an agreement to establish a joint venture on a parity basis.

ABC.AZ informs that it will combine companies' oil and gas assets in Indonesia and Malaysia.

The key agreement may be signed at the end of 2025, after the financial review is completed.

The parties are confident that the joint venture will be able to achieve a sustainable production level of 500,000 barrels of oil equivalent per day, mainly gas. The new structure will combine reserves of about 3 billion boe and with an additional exploration potential of 10 billion boe.

The financing will come from both companies - Eni and Petronas.