Indonesia and Malaysia Approve Eni Petronas Asset Transfer
Indonesia and Malaysia approved transferring 19 assets to the Eni-Petronas joint venture SEARAH. The firm targets an initial July 1 start with 300,000 boepd.
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PETRONAS GAS BHD and ENI SPA secured government approvals to transfer 19 oil and gas assets to their new joint venture. The deal integrates 14 blocks in Indonesia and five in Malaysia under a single entity named SEARAH. The venture will operate an initial production base of 300,000 barrels of oil equivalent per day, with plans to expand to more than 500,000 boepd in the medium term.
