Petrovietnam targets Murphy’s fields in Malaysia

Vietnamese national oil company Petrovietnam is looking to make the country’s largest overseas acquisition.

According to Reuters, Petrovietnam has set its sights on the Malaysian assets owned by the US oil player Murphy Oil.

Quoting sources with knowledge of the matter, Reuters has reported that PetroVietnam has submitted a bid larger than the one offered by a joint venture comprised of two Indian companies ONGC and Oil India.

To remind, Reuters last month informed that ONGC and Oil India had offered $1.5 billion for a 30 pct share in Murphy’s Malaysian assets. According to the news agency, if the PetroVietnam bid is successful, the transaction will be the biggest ever corporate acquisition in Vietnam’s history.

The Vietnamese state-run oil company has a vision to become a leading petroleum group in the region by 2025, according to information found on its website.

Malaysia is Murphy Oil’s main asset base producing more than 40% of the company’s total 2013 net production.

Murphy holds majority interests in seven separate production sharing contracts (PSCs): Block K, Block H, Block P, SK 309, SK 311 and SK 314A, and three gas holding agreements in PM 311.

In 2013, Murphy’s Malaysia net production was about 86,000 boepd, and the company booked total proved reserves 125 MMBO and 406 BCF.

Among other suitors interested for the Murphy-owned Malaysian assets, Reuters, citing unnamed sources, lined up Japan’s Mitsubishi, Mitsui and Kuwait Petroleum Corporation.

 

Offshore Energy Today Staff, August 14, 2014

 

Share this article

Follow Offshore Energy Today

Events>

<< Jun 2019 >>
MTWTFSS
27 28 29 30 31 1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30

Uganda International Oil and Gas Summit 2019

Uganda International Oil & Gas Summit will once again examine the industry’s developments…

read more >

Nigeria Oil & Gas Conference & Exhibition 2019

The annual meeting once again proved to be a great success, gathering over 700 industry professionals…

read more >

08th OIL & GAS AFRICA 2019 CONFERENCE

OIL & GAS AFRICA is one of the most prime regional & international Oil and Gas conferences in East Africa…

read more >

Gas Indonesia Summit 2019

Gas Indonesia Summit & Exhibition is returning for the fourth edition in Jakarta…

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply