United Arab Emirates, Nov. 3 -- Eni and PETRONAS announced a binding agreement to establish an independent company (NewCo) under equal ownership, by combining their respective upstream assets in Indonesia and Malaysia. The signing took place at global energy event ADIPEC, in the presence of Eni CEO, Claudio Descalzi and PETRONAS President and Group CEO, Tengku Muhammad Taufik.The agreement follows the Framework Agreement signed by the two companies on 17th June 2025 and establishes a new entity that will manage 19 assets: 14 in Indonesia and five in Malaysia - representing significant enterprise value. Under NewCo, Eni and PETRONAS will combine complementary portfolios, technical strengths, and regional expertise to deliver long-term value ...