The CEO of Eni Claudio Descalzi met in Rome with the Prime Minister of Malaysia Anwar Ibrahim. The CEO of PETRONAS Tengku Muhammad Taufik also participated in the meeting.
During the meeting, the parties discussed the progress of the business combination between Eni's and PETRONAS's assets in Indonesia and Malaysia. The new company, which fits into Eni's satellite model, will be equally owned and financially self-sufficient, and will ensure a sustainable production of 500 kboepd in the medium term, primarily of gas, leveraging total reserves of about 3 billion barrels of oil equivalent (boe) with an exploratory potential of 10 billion boe.
Descalzi and Taufik also illustrated to the Malaysian Prime Minister the progress of the biorefinery project that PETRONAS, Enilive, and Euglena are developing within PETRONAS's Pengerang industrial site in Johor, Malaysia. The plant, built from scratch, will adopt the Ecofining™ technology developed by Eni, and will produce SAF for air transport and HVO diesel.
The parties also discussed further potential initiatives in the field of energy transition, particularly opportunities for Carbon Capture and Storage, an area where Eni has proven technological and industrial experience, as well as initiatives for producing agri-feedstock for biorefining, in line with Eni's distinctive model of vertical integration of the supply chain.
Source: Eni
