Murphy sells down Malaysian assets to Pertamina

Murphy sells Malaysian assets to Pertamina

Murphy Oil Corporation said that it has entered into a $2.0 billion agreement with Pertamina to sell 30% of its Malaysian oil and gas assets.


Murphy will remain operator and continue to execute its development plans as well as grow through future exploration in both deep-water and shallow-water Malaysia, the company said in a statement.

Roger W. Jenkins, President and Chief Executive Officer, commented, “This transaction marks the value of the high-margin, long-term assets in our Malaysian business. We are excited to strengthen our partnership with Pertamina and look forward to working with them and our other partners in Malaysia.” Jenkins added, “We will continue to evaluate all aspects of our portfolio. This transaction allows us to re-deploy 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.”

 

Press Release, October 1, 2014; Image: Murphy Oil Corp

Share this article

Follow LNG World News

Events>

<< Jan 2020 >>
MTWTFSS
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 31 1 2

LNG Pricing, Trading & Hedging: 3-Day Training Course – London / Mar 2020

This three-day training program provides a unique opportunity to learn and apply the practical skills…

read more >

American LNG Forum 2020

The American LNG Forum is your gateway to learning about the US LNG export industry,

read more >

2nd Global LNG Forum

Global LNG Forum is an exclusive networking and knowledge-sharing platform for top experts and business leaders in the industry.

read more >

LNG Pricing, Trading & Hedging: 3-Day Training Course – Houston / Feb 2020

This three-day training program provides a unique opportunity to learn and apply the practical skills, knowledge and tools needed to:…

read more >