SUPERMAJORS ExxonMobil and Shell are among those reported to be interested in beefing up their Malaysian portfolios with the acquisition of a stake worth up to $1 billion in Petronas’ Block SK 316 off Sarawak, writes Amanda Battersby

Around six companies including Thailand’s PTTEP, Total of France and one or more Japanese players are still in the frame to take up to 49% equity in the offshore asset, which is expected to supply additional liquefied natural gas feedstock. One source previously suggested that Kufpec had also showed interest in the gas-rich block but it could not be confirmed whether the Kuwaiti player remains keen.