Eni and Petronas form a joint venture in the upstream oil and gas sector

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　　According to Sinochem News, Eni recently stated that it has joined forces with a Malaysian oil company to integrate their upstream operations in Indonesia and Malaysia, thereby creating a new joint venture in which both parties hold equal shares. 　　The joint venture will operate as an independent, self-sufficient financial entity, with plans to invest $15 billion over the next 5 years to support the development of at least 8 new projects and the drilling of 15 exploration wells. In addition, the joint venture will also integrate natural gas assets in Malaysia and Indonesia, with initial production reaching 300,000 oil equivalents per day, and medium-term production reaching 500,000 oil equivalents per day. 　　Eni expects the transaction to be completed in 2026, and is currently awaiting approval from the governments of Indonesia and Malaysia as well as relevant regulatory authorities. 　　Eni is currently pursuing a \"satellite strategy\" in Southeast Asia: on the one hand, it is divesting assets, and on the other hand, it is forming joint ventures with international oil and gas companies, as well as integrating or splitting up its new energy projects. Other energy companies operating in the Southeast Asian region in the oil and gas sector, such as Norwegian company Vol Energy and Angola’s Azule, adopt similar strategies.