Investment Agreement
Eni and PETRONAS announce that Searah, a new 50/50 independent joint venture combining key businesses across Indonesia and Malaysia, has been officially established.
The establishment took place just seven months after the signing of the Investment Agreement on November 3, 2025, and 16 months after the Memorandum of Understanding was announced in February 2025.
Searah brings together the complementary portfolios, capabilities, and regional expertise to deliver long-term value creation and operational excellence across Indonesia and Malaysia.
With a portfolio of 19 gas-producing and development assets—14 in Indonesia and 5 in Malaysia, Searah will start from an initial production base in excess of 300,000 boe/d, aiming to exceed 500,000 boe/d of sustainable production within the next three years.
All required regulatory, governmental, and partner approvals in both Malaysia and Indonesia have been obtained, and all conditions precedent have been met.
Eni and PETRONAS share aligned environmental and sustainability objectives for Searah, and believe the collaboration will strengthen operations while supporting economic development and local opportunities in both countries. Searah’s independent and integrated operating model will also generate significant synergies, particularly in logistics and technology.
