MILAN, May 27 (Reuters) - A planned joint venture between Eni and Malaysia's state energy company Petronas, named SEARAH, is expected to have a net income of $2.7 billion and revenue of $6.7 billion in 2030, according to preliminary estimates included in documents cited by Italian daily Il Messaggero on Wednesday.
-
The company, whose binding agreement was signed last November, will have total assets worth $27.3 billion, the daily said.
-
A pool of international banks is structuring a revolving credit facility initially worth $6 billion to support SEARAH's investments in the 2026-2030 period, according to Il Messaggero.
-
The upstream venture will focus on developing and producing natural gas in Malaysia and Indonesia.
-
SEARAH is projected to reach output of around 500,000 barrels of oil equivalent per day in the medium term, the companies said when they announced the agreement.
-
The deal between Eni and Petronas is expected to become operational by the end of June.
-
Eni declined to comment. Petronas was not immediately available to comment outside its business hours.
Reporting by Francesca Landini; Editing Chiara Rodriquez
Source: Reuters