Public Event Detail
Eni, Petronas Launch Southeast Asian Gas JV
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Event summary
Petroliam Nasional Bhd and Eni SpA have formed Searah, a 50:50 joint venture combining their assets in Indonesia and Malaysia, with an initial production base of over 300,000 barrels of oil equivalent per day (boed) aiming to exceed 500,000 boed within three years. The venture has secured a $6 billion credit facility to support growth plans, including over $20 billion in investments over five years, to develop more than 3 billion boe of discovered resources. This initiative follows a recent discovery by Eni, Geliga-1, in Indonesia which confirmed significant gas and condensate reserves now transferred to Searah.