A change in partners' working interests has taken place at the Gumusut-Kakap deep-water fields off Sabah, Malaysia.
The fields were jointly developed under a 2008 unitisation agreement, and working interest redeterminations are required at different stages during the project life. At that time, ConocoPhillips and Shell each held 33% interests with Petronas Carigali on 20% and Murphy 14%.
Murphy said in its first quarter results that it was "experiencing a previously announced redetermination" whereby, in February 2017, it received a Petronas notice that reduces its stake in oil operations to 6.67%
