Eni and Petronas are considering the establishment of a joint venture (JV) holding company to oversee selected upstream assets in Indonesia and Malaysia. The companies announced an exclusive memorandum of understanding (MOU) to progress detailed discussions on the JV formation.

Eni and Malaysia's state energy firm Petroliam Nasional Bhd (Petronas) signed a memorandum of understanding to create a joint venture to oversee some upstream assets in Indonesia and Malaysia, the Italian energy group said on Thursday.

Energy giant ENI and Malaysia's state energy company Petronas have signed a Memorandum of Understanding to build a joint venture to manage a selection of upstream assets in Indonesia and Malaysia, the Italian energy group said on Thursday.