Petrofac considers offshore oil asset sale in Malaysia


I suggest that these assets are run by Local Community Companies (LCC) as practiced by Oman.

Dateline 2019-06-12, World Oil:

Petrofac is weighing a sale of its Malaysian assets for about $300 million, according to people with knowledge of the matter.

The company has started gauging interest from potential investors on the planned divestment, said the people, asking not to be named as the discussions are private. The assets that could be on sale include a stake in an offshore oil field development known as PM304, one of the people said.

Petrofac is the latest oil company looking to monetize its investments in Malaysia. Exxon Mobil Corp. is considering a sale of its offshore assets in the Southeast Asian nation which could raise as much a $3 billion, Bloomberg News reported in October, while Murphy Oil Corp. in March agreed to sell its portfolio in Malaysia for $2.13 billion.

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