Claudio Descalzi highlights Searah as a milestone in Eni’s expansion

Following the establishment of Searah by Eni and Petronas – creating one of South-East Asia’s leading independent integrated energy company – Eni CEO Claudio Descalzi stressed that the project embodies Eni’s successful satellite strategy, designed to develop focused, high-value businesses capable of combining scale, operational efficiency, and sustainable growth. This approach is supported by Eni’s expertise in exploration and project delivery, as well as its ongoing commitment to technological advancement and innovation.

Claudio Descalzi: Searah established by Eni and Petronas

Eni and Petronas have announced the official establishment of Searah, a new 50/50 independent joint venture that combines selected businesses in Indonesia and Malaysia. The milestone has been reached seven months after the signing of the Investment Agreement in November 2025 and 16 months after the Memorandum of Understanding unveiled in February 2025. As announced, Searah is designed to create long-term value while delivering operational excellence across both countries. The company starts with a portfolio of 19 gas-producing and development assets, including 14 in Indonesia and five in Malaysia. Initial production exceeds 300,000 barrels of oil equivalent per day (boe/d), with a target of surpassing 500,000 boe/d of sustainable output within the next three years. Commenting on the announcement, Eni CEO Claudio Descalzi stated that Searah reflects “our proven satellite strategy that aims at building focused, high-quality businesses that can combine scale, efficiency, and growth, and that are driven by our excellence in exploration and project execution, and our continued focus on technology and innovation”. By combining the strengths of Eni and Petronas, Searah aims “to support the development of energy resources in Indonesia and Malaysia, with a strong commitment to environmental protection and local growth”. The company has secured a USD 6 billion Revolving Credit Facility, underlining strong confidence from the financial community. Over the next five years, Searah expects to invest more than USD 20 billion in strategic projects, supporting the development of over 3 billion boe of discovered resources and unlocking additional exploration potential across the region.

Claudio Descalzi describes Searah as a strong example of Eni’s satellite strategy

Within the framework of the project, Eni and Petronas share closely aligned environmental and sustainability objectives, and both companies believe the partnership will enhance operational performance and economic development. Searah’s operating model is also expected to unlock synergies, particularly in logistics optimization and the deployment of technologies. All personnel previously working for Eni Indonesia and Petronas Indonesia have been transitioned into the new company, ensuring operational continuity. In parallel, Searah Malaysia Sdn Bhd has been established as a dedicated entity responsible for managing the Malaysian asset base. The launch of Searah follows the Final Investment Decisions for the Gendalo and Gandang fields (South Hub) and the Geng North and Gehem fields (North Hub), announced by Eni in March. Commenting on the project, Claudio Descalzi highlighted the new company as a key example of Eni’s successful satellite strategy. Together, the assets contain nearly 10 trillion cubic feet of gas initially in place and around 550 million barrels of associated condensate. Production is expected to start in 2028, reaching about 2 billion standard cubic feet per day of gas and 90,000 barrels per day of condensate by 2029. The development builds on Eni’s Geliga-1 gas discovery in the Ganal Block, Kutei Basin, estimated at around 5 trillion cubic feet of gas and 300 million barrels of condensate, while also showing strong production potential. Furthermore, Claudio Descalzi noted that Searah will support efficient capital deployment and strengthen operations across Indonesia and Malaysia, ultimately targeting equity production of 500,000 boe/d. Overall, the project marks a new phase in the Eni-Petronas partnership and reinforces their long-term presence in South-East Asia, paving the way for a leading independent integrated energy company.

Company :-Eni

User :- Luca Serri

Email :-officesstudioes@gmail.com

Url :- https://www.crunchbase.com/person/claudio-descalzi