Energy Majors Eye A $1B Stake In Malaysian NatGas Asset


Dateline 2017-06-05, Oilprice.com:

Malaysia’s state oil firm Petronas has pushed a plan to sell a US$1-billion stake in a local offshore gas project to the next round of bidding expected to attract international majors including Shell and ExxonMobil, Reuters reported on Monday, citing four people familiar with the plan.

Back in February, Petronas was reportedly planning on selling an up to 49-percent stake in the SK316 offshore gas block in the Sarawak state. A portion of the funds earned from the new sale could be set aside for the future of the Kasawari field, which government estimates say could hold three trillion cubic feet of recoverable hydrocarbons.

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