ENI SpA and Petronas have formalized a strategic joint venture, NewCo, to manage 19 upstream oil and gas assets—14 in Indonesia and five in Malaysia—following a framework agreement signed in June 2025. With a US$15 billion investment plan over five years, NewCo will pursue eight new development projects and drill 15 exploration wells, targeting 3 billion barrels of discovered reserves and an additional 10 billion boe in untapped potential. Initial production is set at 300,000 boe/day, with ambitions to exceed 500,000 boe/day through strategic initiatives in the Kutai and Malaysia basins. The venture underscores deepening regional integration and operational synergy between ENI and Petronas, combining financial strength and technical expertise. ENI’s longstanding presence in Indonesia includes key assets like Jangkrik, Merakes, Gehem, Rapak, and the major Geng North discovery, which holds an estimated 5.3 TCF of gas. Regulatory and partner approvals are underway, with full operational launch expected by 2026.Source: https://indonesiabusinesspost.com/5588/energy-and-resources/eni-and-petronas-form-newco-to-manage-oil-and-gas-assets-in-indonesia-malaysia (ICE GIACARTA)

Fonte notizia: Indonesia Business Post, 4 November 2025