Petronas’ stake sale of offshore gas asset advances to second round: sources


I don’t know why this item has been so hyped up. Isn’t this the usual way acreage is bid out?

Dateline 2017-06-05, Reuters:

The sale by Malaysian energy firm Petronas of an estimated $1 billion stake in a local upstream gas project has moved to the second round and is set to attract interest from about half a dozen bidders including Royal Dutch Shell and ExxonMobil Corp, four sources familiar with the matter said.

State-owned Petroliam Nasional Bhd (Petronas) had kicked off a process to sell a stake of up to 49 percent in the SK316 offshore gas block in Malaysia’s Sarawak state, Reuters reported in February.

Prospective buyers are expected to submit second round financial bids this month, and a final decision on the successful bidder is expected later this year, said two sources.

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