Exxon eyes shortlist for Malaysian oil and gas assets

Dateline 2020-09-25, Oil & Gas 360:

Exxon Mobil has narrowed the list of bidders for its oil-producing offshore assets in Malaysia that could potentially raise $2 billion to $3 billion in a sale, according to people with knowledge of the matter.

U.K.-listed EnQuest Plc and Kuala Lumpur-traded Hibiscus Petroleum Bhd. are among those that have been chosen to submit binding bids for the assets, the people said. Other companies have also expressed interest, said the people, who asked not to be identified as the discussions are private.

Exxon Mobil started the process to sell its Malaysian assets last year as part of its global divestiture program, Bloomberg News has reported. It produces oil and gas in the Southeast Asian nation under four production sharing contracts with the state-owned Petroliam Nasional Bhd., according to its website.

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