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Story summary
- Italian energy company Eni and Malaysia's Petronas signed a binding agreement to form NewCo.
- The venture will combine assets in Malaysia and Indonesia and is valued at over $15 billion.
- NewCo will manage 19 assets, invest in eight new projects, and drill 15 exploration wells over the next five years.
- The agreement was signed at the Abu Dhabi conference and is expected to finalize in 2026.
