Eni and Petronas Forge Major Southeast Asia Upstream Joint Venture
Italy’s energy giant Eni and Malaysian state oil and gas firm Petronas are combining their upstream assets in Indonesia and Malaysia in a new, equally-owned joint venture, the Italian company said on Monday. The newly-created joint venture, which will operate as a separate self-sufficient financial entity, plans to invest $15 billion over the next five years, under the deal Eni and Petronas signed at the ADIPEC energy conference in Abu Dhabi today. The investment will support the development of at least eight new projects…