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SPANISH oil major Repsol SA is understood to be looking to exit its oil and gas (O&G) production business in Malaysia, sources familiar with the matter tell The Edge.
While details are scarce, it is understood that Repsol has roped in an international investment bank to assist in the sale.
Mikkel Larsen, Repsol’s international communication and country coordination official, in an email response to The Edge on the possible sale of the company’s Malaysian assets, says, “We don’t have any comments to this we never comment on speculations about this kind of processes.”
Nevertheless, a high-ranking local O&G executive says, “I am not surprised, it (the sale of assets) has been on the cards for a while now.”
KUALA LUMPUR (March 1): Petroliam Nasional Bhd (Petronas) has launched the Malaysia Bid Round (MBR) 2021, under which the company is offering 13 oil and gas exploration blocks to open up more investment opportunities for investors to explore and monetise hydrocarbon resource potentials in Malaysia.
Petronas said in a statement today that out of the 13 offshore blocks, three are situated in the Malay basin in Peninsular Malaysia, four in the Sabah basin and the remaining six are located in the Sarawak basin. The Malay basin blocks are known as PM340, PM327 and PM342, the Sabah basin blocks are indicated as SB409, SB412, 2W and X, while the Sarawak basin blocks are specified as ND3A, SK4E, SK328, SK427, SK439 and SK440, according to Petronas.