Shell and UAE’s Mubadala swap Malaysian offshore field stakes


Dateline 2013-01-19, Zawya:

Royal Dutch Shell and Mubadala Petroleum have swapped equity stakes in two exploration blocks off Malaysia, the Abu Dhabi-based energy company said on Sunday.

Mubadala has taken a 20 percent interest in the Shell-operated deepwater Block 2B and Shell took a 20 percent interest in the Mubadala-operated Block SK320 in return.

“The equity swap agreement is an important step for Mubadala Petroleum’s growth strategy in Malaysia and marks our first partnership in Southeast Asia with Shell, an important player in deepwater exploration,” Maurizio La Noce, chief executive of Mubadala Petroleum, said in a statement.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: