ExxonMobil to transfer operations of all Malaysia oil and gas assets to Petronas, sources say
- Exxon runs 35 oil and gas platforms in 12 fields offshore Terengganu, and has working interest in 10 platforms in the South China Sea
Exxon Mobil intends to transfer the operations of all assets of two production-sharing contracts in Malaysia to state energy company Petronas, Exxon Mobil said on Saturday.
It was reported on Friday that Exxon Mobil agreed to sell its Malaysian oil and gas assets to Petronas, citing two people with direct knowledge of the matter.
“This is not a sale and there will be no changes to EMEPMI’s working interest in the Production Sharing Contracts,” ExxonMobil Exploration and Production Malaysia Inc, or EMEPMI, said in a statement to Reuters.
“This does not impact our other businesses in Malaysia — we remain committed to conducting business here as we have for more than 130 years,” it added.
In a separate statement earlier Saturday, Petronas said Petronas Carigali Sdn Bhd is engaged in discussions with EMEPMI regarding the transfer of operations for two production-sharing contracts located offshore peninsular Malaysia.
“The discussions are subject to further agreements between both parties,” it said in response to a Reuters query. “Petronas Carigali remains committed to safe operations, as well as maintaining reliable and uninterrupted energy supply for our customers throughout the process.”
Malaysian media have reported that Exxon Mobil has been trying to sell its ageing upstream assets in the country since 2020.