Eni, PETRONAS complete formation of Searah joint venture

Eni and PETRONAS officially established Searah, their 50/50 upstream joint venture combining assets across Indonesia and Malaysia, on 8 June, seven months after the signing of the investment agreement in November 2025.

Searah brings together 19 gas-producing and development assets with an initial production base exceeding 300,000 boe/d. The venture targets production of more than 500,000 boe/d within three years. All regulatory, governmental and partner approvals in both countries have been obtained.

All Eni Indonesia and PETRONAS Indonesia staff have transitioned to Searah. A dedicated entity, Searah Malaysia Sdn Bhd, has been established to manage Malaysian assets.

The launch follows FIDs taken by Eni in March for the Gendalo and Gandang fields and the Geng North and Gehem fields in the Kutei Basin offshore Indonesia, which together hold nearly 10 Tcf of gas initially in place and approximately 550 million bbl of associated condensate. It also follows Eni’s recent Geliga-1 gas discovery in the Ganal block, estimated to contain around 5 Tcf of gas and 300 million bbl of condensate in place.