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.

…

 

Leave a Comment » | Malaysia, oil and gas | Tagged: , , | Permalink
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.

…

Leave a Comment » | Malaysia, oil and gas | Tagged: , | Permalink
Posted by Wata