Thailand’s national upstream company PTTEP is investing a significant part of its war chest through the US$2.127 billion all-cash acquisition of Murphy Oil’s Malaysian assets.
The deal gives PTTEP producing and exploration acreage off Sabah and Sarawak, East Malaysia and, after completion, is expected to boost the company’s sales volumes by 15%.
The transaction encompasses blocks H and K off Sabah and three Sarawak projects — SK 309 & SK 311, SK 314A and SK 405B — a mix of shallow and deep-water oil and gas assets.
