Eni and PETRONAS to form a joint venture.

Eni, an energy company, and PETRONAS, the Malaysian national oil and gas company, agreed to form a joint venture. Financial terms were not disclosed. “This is another significant step towards the new company that Eni and PETRONAS have agreed to create across Indonesia and Malaysia, generating synergy in terms of assets, expertise and financial capabilities, in a transformational model that further strengthens the huge potential of the two countries. The new company will have a strong regional impact on gas production, bringing additional energy, infrastructures and employment for the benefit of both Indonesia and Malaysia. The new company will also have the opportunity to further build on an amazing, combined portfolio of more than 50 TCF of additional, low risk exploration potential,” Claudio Descalzi, Eni CEO.