PT Pertamina to acquire Malaysian assets for $2 billion

December 9, 2014

Date 2014-09-30, Oil & Gas Journal:

PT Pertamina Malaysia Eksplorasi Produksi has agreed to acquire 30% of the Malaysian oil and gas assets belonging to Murphy Sabah Oil Co. Ltd. and Murphy Sarawak Oil, both wholly owned subsidiaries of Murphy Oil Corp., for $2 billion in cash.

The two companies will work jointly in a long-term partnership in which Murphy will remain operator. Murphy says it will continue to execute its development plans and expand through future exploration in both deepwater and shallow-water Malaysia.

Roger W. Jenkins, Murphy president and chief executive officer, commented, “We are excited to strengthen our partnership with Pertamina and look forward to working with them and our other partners in Malaysia.

“We will continue to evaluate all aspects of our portfolio,” Jenkins added. “This transaction allows us to redeploy the proceeds through an individual or combination of strategic and financial initiatives such as increased drilling capital in the Eagle Ford shale, acquisition opportunities, debt reduction and share repurchases.”

The deal, subject to approval from Malaysia’s state owned Petronas, is effective Jan. 1. The first and second phases are expected to close in fourth-quarter 2014 and first-quarter 2015, respectively.

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Petrovietnam eyes stake in Murphy Oil’s Malaysian assets

October 30, 2014

Dateline 2014-08-14, Reuters:

Petrovietnam has bid for a stake in Murphy Oil Corp’s Malaysian oil and gas assets, challenging other suitors including Mitsubishi Corp and Indian state oil companies, a person with direct knowledge of the plan said.

The state oil company’s bid comes as Vietnam, the third largest holder of crude oil reserves in Asia, seeks to reverse a steady decline in its oil output over the past decade. Murphy Oil and other U.S. oil companies are reducing overseas holdings as oil and gas exploration prospects improve at home.

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ONGC denies bidding for Murphy Oil’s Malaysia assets

October 19, 2014

Dateline 2014-08-07, Daijiworld (wha?):

State-run explorer Oil and Natural Gas Corp (ONGC) Thursday described as “unsubstantiated media speculations” recent reports on its bid for Murphy Oil’s Malaysia assets.
A foreign agency had reported that explorers ONGC and Oil India (OIL) had made a $105 billion joint bid for Murphy Oil Corp’s Malaysian oil and gas assets.
“ONGC/ONGC Videsh, as a policy do not comment on unsubstantiated media/market speculations,” ONGC said in a stock exchange filing.

 

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ONGC, Oil India bid $1.5 bln for stake in Murphy Oil’s Malaysia assets

October 11, 2014

Dateline 2014-07-31, Business Standard:

State-owned Oil & Natural Gas Corp and Oil India Ltd have submitted a joint bid worth about $1.5 billion to buy a stake in Murphy Oil Corp’s Malaysian oil and gas assets, sources directly involved in the process said.

Arkansas-based Murphy, which has interests in oil and gas fields in Malaysia, Vietnam, Indonesia, Brunei and Australia, has invited bids for a 30 percent stake in its Malaysian assets, Reuters previously reported.

If successful, ONGC, India’s largest oil and gas exploration company, will own a 20 percent stake in the assets, while Oil India would own the remaining 10 percent, said three sources involved in the process.

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Murphy Oil’s Malaysia assets draw interest from Mitsubishi, ONGC

October 1, 2014

Do you remember the Zero?

Dateline 2014-07-17, Business Standard:

Top Japanese trading house Mitsubishi Corp has submitted a non-binding bid to buy Murphy Oil Corp’s Malaysian oil and gas assets valued at about $2.5 billion, a person familiar with the matter told Reuters.

India’s state-owned Oil & Natural Gas Corp and Oil India Ltd are among the other suitors preparing to submit bids for the Murphy assets, separate sources with direct knowledge of the process said.

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Saturday Star 2014-08-09 – Job Opportunities

August 11, 2014

Eid Mubarak.

Buy my recommendations, or through my Amazon store. Or get the Young Turks series (all 4 books). Where are those corporate sponsors? Or throw donations at me. I need RM360 to get The Star ePaper.

  • Murphy is looking for a senior structural engineer.  Send your CV here.

Support your local bookshop!  Bookalicious at The Summit Subang is a good choice. I think they focus on trilogies, quadrilogies, and other ologies. Tell them I sent you, and enjoy the look of perplexity on their faces. Those of you who have dropped my name, thanks!

Food choice of the week? How if you visit Vietnam, how about visiting and updating GoHalalVietnam! for your food needs. For your other needs, talk to your local tour guide/ concierge / man on the street.

Some books for you to turn those bad numbers’ frown upside down.

  

Proofiness: The Dark Arts of Mathematical Deception, Bad Science: Quacks, Hacks, and Big Pharma Flacks, How to Lie with Statistics

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Murphy Oil Seeks Sale of Malaysia Oil and Gas Assets

July 8, 2014

Time to take those CVs out for an airing, ladies. And can anyone loan me the cash to purchase them?

Dateline 2014-05-15, TWSJ:

Midsize U.S. energy firm Murphy Oil Corp. MUR -0.27% has begun an over US$2 billion sale of its Malaysian oil and gas assets, people with knowledge of the deal said.

The deal would make Murphy the latest U.S. oil company to shed overseas assets in an effort to refocus on business back home.

Murphy Oil is seeking to sell as much as 30% of its stake in its Malaysian assets, these people said.

The sale process is at an early stage, the people said, adding that the company is currently seeking bidders. The first round of bids are due in June, one of the people said, adding that the company hopes to wrap up the deal by the end of the year.

Murphy Oil didn’t respond to requests for comment.

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Saturday Star 2014-06-28 – Job Opportunities

June 30, 2014

Selamat berpuasa.

Buy my recommendations, or through my Amazon store. Where are those corporate sponsors? Or throw donations at me. I need RM360 to get The Star ePaper

  • I’m looking for a senior process engineer, 7+ years experience. Also looking for technical safety persons, metering / measurement engineers and other seniors you think will catch my eye.
  • Murphy is looking for a whole mess of people. For example, completions supervisor, completions engineer, drilling superintendent, senior petroleum engineer.  Send your CV here.

Support your local bookshop!  Bookalicious at The Summit Subang is a good choice. I think they focus on trilogies, quadrilogies, and other ologies. Tell them I sent you, and enjoy the look of perplexity on their faces. Those of you who have dropped my name, thanks!

Food choice of the week? How if you visit Vietnam, how about visiting and updating GoHalalVietnam! for your food needs. For your other needs, talk to your local tour guide/ concierge / man on the street.

Some books for you to turn those bad numbers’ frown upside down.

  

Proofiness: The Dark Arts of Mathematical Deception, Bad Science: Quacks, Hacks, and Big Pharma Flacks, How to Lie with Statistics

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Posted by Wata

Oil India said to plan bid for $2 billion Murphy Malaysia assets

June 5, 2014

Hmm.

Dateline 2014-04-16, Mint & TWSJ:

Oil India Ltd (OIL), the nation’s second-biggest state-run explorer, is weighing a bid for part of Murphy Oil Corp.’s assets in Malaysia, said people with knowledge of the matter.
The producer is interested in buying about a 30% stake in Murphy Oil’s assets in the Southeast Asian nation, said the people, who asked not to be identified because the information is private. The holding may be valued at least at $2 billion, the people said.
India’s government-run oil companies are building on their record $5.5 billion of acquisitions last year to secure supplies for Asia’s second-biggest energy consumer. Oil India, which had $2.1 billion of cash at the end of September, is also studying an acquisition of Nigerian oil and gas assets owned by Royal Dutch Shell Plc valued at as much as $2 billion, people familiar with the matter said last week.

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OTCA Shows Strong Interest From Major Oil & Gas Players In Investing In Malaysia

May 10, 2014

Dateline 2014-03-31, Bernama:

The recently concluded Offshore Technology Conference Asia 2014 (OTCA) showed strong interest from major oil and gas (O&G) players towards investing in Malaysia.

RHB Research in a research note today said among the players were UK-based Petrofac Ltd, Talisman Malaysia Ltd, Murphy Sarawak Oil Co Ltd and Shell Malaysia.

The research house said Talisman Malaysia which was granted a progressive volume based (PVB) production-sharing contract (PSC) for its Kinabalu oil fields, wants to boost the improved oil recovery potential and reap synergies from the Samarang project, off Sabah.

The oil company is also looking at extension acreage for its SB309/310 field, off Sabah, with three to four well exploration programmes this year and boost the recovery rate of its 41 per cent-operated Block PM3 CAA, offshore Peninsular Malaysia to 40 per cent from 30 per cent, it added.

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