Latest news with #GuidoBrusco
CNA
11 hours ago
- Business
- CNA
Petronas expects set-up of proposed ENI JV will take one to two years
KUALA LUMPUR :Petronas expects to take one to two years to set up a proposed joint venture with Italian energy group Eni on some upstream assets in Indonesia and Malaysia, an executive of the state-run energy company said on Tuesday. The companies signed a pact in February on the joint venture that aims to combine about 3 billion barrels of oil equivalent (boe) of reserves with an additional 10 billion boe of potential exploration upside. "The whole idea of having this as a combination is to have an independent entity created in order to be self-financed," Mohd Jukris Abdul Wahab, executive vice president and chief executive of upstream for Petronas, said at the Energy Asia conference in the Malaysian capital. Guido Brusco, Eni's chief operating officer, said, "This is a game changer for us in the region. We are combining assets from Malaysia and Indonesia, particularly in the Kutai Basin." Eni's Kutai Basin assets include developments in the Northern and Gendalo-Gandang hubs, which have massive gas reserves. Petronas has said it was looking to include oil and gas projects in Indonesia's Kutai Basin in the planned joint venture, proposing to swap interests for its assets in Malaysia and Indonesia with Eni's blocks there.
Reuters
07-04-2025
- Business
- Reuters
Eni looking at potential new sales of upstream assets after Vitol deal
RAVENNA, April 7 (Reuters) - Italy's Eni ( opens new tab is considering potential sales of its upstream assets following a recent deal with global energy trader Vitol, Chief Operating Officer for upstream activities Guido Brusco said on Monday. The executive added that the recent sale of assets in Ivory Coast and Congo "had attracted significant expressions of interest from many investors". The Italian energy group is "continuing to work on these kinds of deals," he added. Eni agreed in March to sell stakes in assets in Ivory Coast and the Republic of Congo to Vitol for an aggregate value of $1.65 billion at January 1 2024, with cash adjustment at closing.
