Search
00
GBAF Logo
trophy
Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

Subscribe to our newsletter

Get the latest news and updates from our team.

Global Banking and Finance Review

Global Banking & Finance Review

Company

    GBAF Logo
    • About Us
    • Profile
    • Wealth
    • Privacy & Cookie Policy
    • Terms of Use
    • Contact Us
    • Advertising
    • Submit Post
    • Latest News
    • Research Reports
    • Press Release

    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
    Copyright © 2010-2025 GBAF Publications Ltd - All Rights Reserved.

    ;
    Editorial & Advertiser disclosure

    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Finance

    Eni, Petronas merge Indonesia, Malaysia assets in joint venture

    Published by Global Banking and Finance Review

    Posted on November 3, 2025

    Featured image for article about Finance

    By Yousef Saba and Francesca Landini

    DUBAI (Reuters) -Italy's Eni <ENI.MI> and Malaysia's state energy firm Petronas said on Monday they had signed a binding agreement to form a jointly owned company combining their upstream oil and gas assets in Indonesia and Malaysia.

    The new entity, NewCo, will manage 19 assets, 14 in Indonesia and five in Malaysia, with plans to invest over $15 billion in the next five years to develop about 3 billion barrels of discovered reserves and explore a further 10 billion barrels.

    The agreement was signed at ADIPEC in Abu Dhabi.

    The move is part of Eni's "satellite" strategy under which the Italian energy group has created several spin-offs centered around specific businesses and has supported their growth to make them independent.

    In a similar transaction, Eni teamed up with BP in Angola to create their Azule Energy joint venture.

    The NewCo with Petronas will integrate a portfolio of gas-producing and development assets across Malaysia and

    Indonesia beginning with an initial production base of more than 300,000 barrels of oil equivalent per day (boe/d).

    It plans to grow to more than 500,000 boe/d of production in the medium term.

    It will operate as a financially self-sufficient entity, Eni said in a statement.

    (Reporting by Yousef Saba in Dubai, Francesca Landini in Milan; Writing by Tala Ramadan and Francesca Landini; Editing by Kim Coghill and Louise Heavens)

    Why waste money on news and opinions when you can access them for free?

    Take advantage of our newsletter subscription and stay informed on the go!

    Subscribe