Eni and Petronas established Searah as a 50-50 independent joint venture. The entity combines 19 upstream assets across Indonesia and Malaysia. This portfolio includes 14 assets in Indonesia. It also incorporates five assets in Malaysia.
Initial production currently exceeds 300,000 barrels of oil equivalent per day. Searah aims to increase production to 500,000 barrels of oil equivalent per day. The company plans to reach this target within three years.
The venture focuses on gas exploration to supply the growing liquefied natural gas (LNG) sector. This partnership follows an investment agreement signed in November 2025.
The deal employs Eni’s satellite model to optimize operations in the Kutei Basin. All necessary regulatory approvals have been received.