Which governments have approved the asset transfers to the new Eni-Petronas joint venture, and what specific assets are involved?

The Indonesian and Malaysian governments have approved the transfer of production-sharing contracts for 19 oil and gas assets — 14 in Indonesia and 5 in Malaysia — from Petronas and Eni to their newly formed joint venture company, SEARAH.

What is the expected operational start date of the new Eni-Petronas joint venture, and what is its initial production capacity?

The joint venture is expected to become operational on July 1, pending final internal procedures; it will initially manage a portfolio with a production base of more than 300,000 barrels of oil equivalent per day (boepd), targeting over 500,000 boepd in the medium term.

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Indonesia, Malaysia Approve Asset Transfers to New Eni-Petronas JV, Says Petronas Exec

May 21, 2026

Indonesian and Malaysian governments have approved asset transfers to a new Eni-Petronas joint venture managing 19 oil and gas blocks. The companies aim to start operations by July 1 with an initial production base exceeding 300,000 barrels of oil equivalent per day.

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