# The Indonesian and Malaysian governments have approved the changes of ownership for oil and gas blocks that will be transferred to a new joint venture.

*business · news · 2026-05-21 · The Star*

## Key points

- Indonesian and Malaysian governments have approved ownership changes for 19 oil and gas assets.
- The new joint venture company is named SEARAH and will manage assets from both countries.
- SEARAH is expected to become operational on July 1, pending final internal procedures.
- The integrated assets have an initial base of over 300,000 boepd, targeting 500,000 boepd medium term.

**Companies:** PETRONAS, Eni
**Countries:** Indonesia, Malaysia

[Read the full story on The Star](https://www.thestar.com.my/business/business-news/2026/05/21/indonesia-malaysia-have-approved-asset-transfers-to-new-eni-petronas-jv-petronas-exec-says)

---

Canonical: https://newsio.io/n/1c04a724-3959-4a59-a3c4-bbf4c5730cab/the-indonesian-and-malaysian-governments-have-approved-the-changes-of-ownership
Summarized by Newsio from The Star. https://newsio.io/how-it-works