February 27, 2025 | 04:36 pm
TEMPO.CO, Jakarta - Italian energy group Eni and Malaysia's state energy firm Petroliam Nasional Bhd (Petronas) signed a memorandum of understanding to create a joint venture to oversee some upstream assets in Indonesia and Malaysia, the group said on Thursday.
The new company will combine around 3 billion barrels of oil equivalent (BoE) of reserves with an additional 10 billion BoE of potential exploration upside, a statement said.
The joint venture is expected to generate substantial synergies towards becoming a major liquefied natural gas (LNG) player in the region, it added.
REUTERS
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