Eni and Petronas have signed a binding agreement to combine their upstream portfolios in Malaysia and Indonesia under a new jointly owned company that will invest over $15 billion in the next five years. Eni (NYSE: E) and Malaysia’s state energy giant Petronas have finalized a binding deal to merge their upstream oil and gas assets in Indonesia and Malaysia into a new independent entity—referred to as “NewCo”—that will be owned equally by both companies. The agreement, signed during the ADIPEC energy con ...