MILAN (Reuters) - 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
Eni and Petronas to Merge Upstream Assets in Southeast Asia
MILAN (Reuters) - 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 Italian energy 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 player in the region, it added .
(Reporting by Gianluca Semeraro and Francesca Landini, editing by Giulia Segreti)
