Dateline 2025-11-04, Offshore Engineer:
Eni and Petronas have signed a binding agreement to establish a new satellite company through the business combination of their upstream assets in Indonesia and Malaysia.
The signing follows a framework agreement signed in June 2025.
The independent company (NewCo) under equal ownership will manage 19 assets in total – 14 in Indonesia and five in Malaysia – and will operate as a financially self-sufficient entity with an investment plan in excess of $15 billion over the next five years.
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Wata - Malaysian Oil and Gas Engineer 