Global law firm Clifford Chance has advised Searah Limited, Eni and PETRONAS’s 50:50 joint venture company, on the international aspects of a US$6 billion revolving credit facility – combining selected upstream oil and gas assets across Indonesia and Malaysia.
Searah brings together a portfolio of 19 upstream oil and gas assets (14 in Indonesia and five in Malaysia) spanning exploration, development and production. The joint venture starts with an initial production base of approximately 300,000 barrels of oil equivalent per day (boe/d), with a target exceeding 500,000 boe/d of sustainable production within the next three years.
Partner Chin Seng Chew (Singapore) led the transaction with support from senior associates Alberto Maero (Milan), Jitr Vilaivongse (Singapore) and Ken Li (Singapore) and associate Ivan Ting (Singapore). Partners Nicholas Wong (Dubai), Craig Nethercott (Dubai), Jemma Dick (London) and Olivia Higgs (London) as well as associates Marco Montanaro (London) and Tom Masters (London) provided additional support. The firm was further supported by, and worked in close collaboration with, the in-house legal team of Eni – Federica Andreoni, Nicola Ghedi, Stefano Torta and Edward Rand – and the PETRONAS Group legal team.
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