Italian energy giant Eni in June 2026 centers on the official launch of Searah, a massive Southeast Asian gas joint venture established alongside Malaysia’s state-owned PETRONAS.The Launch of Searah (Southeast Asia)Partnership Structure:
Eni and PETRONAS completed a 50:50 joint venture creating “Searah”, a leading independent integrated energy firm.Asset Portfolio: The venture merges 19 gas-producing and development assets, including 14 located in Indonesia and 5 in Malaysia.
Production Targets: Searah kicks off with an initial base exceeding 300,000 barrels of oil equivalent per day (boe/d), targeting over 500,000 boe/d within three years.
Backed by a newly secured $6 billion revolving credit facility, the JV plans to deploy over $20 billion in investments over five years.
Operations will build heavily on Eni’s recent Final Investment Decisions (FIDs) for the North Hub (Geng North, Gehem) and South Hub (Gendalo, Gandang) in Indonesia, aiming for production starts by 2028.
Note by Alessandro Bazzoni