Hess’ latest pact with Petronas lays foundation for potential Malaysia exit


Dateline 2021-06-10, Peril of Africa (my sources are everywhere)

Petronas and Hess have agreed amendments to an existing upstream gas sales agreement for fields offshore Malaysia that cements the value of the US-based company’s North Malay Basin assets. This makes any potential divestment process easier as Hess focuses on its prolific acreage offshore Guyana.

“This gas sales agreement now cements the value of the NMB (North Malay Basin) and lays the groundwork for a sale as Hess needs billions of dollars for Guyana,” a Kuala Lumpur-based industry source told Energy Voice.

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