Eni has unveiled a decisive strategic blitz across two key global energy frontiers, officially launching the $20 billion 50/50 Searah integrated energy joint venture with Petronas in Southeast Asia while simultaneously marking its first entry into The Gambia's offshore exploration sector—two synchronized moves that dramatically expand and diversify the Italian major's global footprint.
Backed by a $6 billion revolving credit facility that underscores robust global financial market confidence, Searah will deploy over $20 billion in capital over five years to develop 3+ billion boe of discovered resources and unlock multi-billion boe of additional exploration upside. All regulatory and partner approvals across Indonesia and Malaysia have been fully secured, with all Eni and Petronas Indonesia staff transitioning to the new entity, alongside a dedicated Searah Malaysia subsidiary established to manage its Malaysian asset portfolio.
Searah's robust portfolio spans 19 gas-producing and development assets (14 in Indonesia, 5 in Malaysia), commencing operations at an initial base of 300,000+ boe/d and targeting 500,000 boe/d of sustainable production within three years. Growth will be driven by the recently sanctioned South Hub (Gendalo, Gandang) and North Hub (Geng North, Gehem) projects, holding nearly 10 tcf of gas initially in place and 550 million barrels of condensate, with first production scheduled for 2028 and plateau output of 2 bscfd gas and 90,000 bpd condensate by 2029. Eni's giant Geliga-1 gas discovery (5 tcf gas, 300 million barrels condensate) adds further transformative long-term growth potential.
Parallel to the Searah launch, Eni signed a petroleum license agreement for the 1,300-square-kilometer Block A1 offshore The Gambia. Located in the underexplored Atlantic margin with proven hydrocarbon potential, the block covers water depths of 1,250–3,300 meters, perfectly aligning with Eni's strategy of building a balanced portfolio spanning mature, emerging and frontier basins.
These dual, closely timed milestones cement Eni's position as a leading global energy operator. Searah is poised to become Southeast Asia's preeminent independent gas producer, while the Gambian entry opens a promising new growth corridor in West Africa, positioning Eni for sustained value creation in high-potential energy markets.
Eni Petronas Searah SoutheastAsiaEnergy WestAfricaEnergy Gambia NaturalGas EnergyJV OffshoreExploration EnergySecurity
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