Murphy and Petronas both look beyond Malaysia, toward Mexico
Tom KirkmanIndependent Project Manager
Interesting jump from Malaysia to Mexico.
Both USA’s Murphy Oil and Malaysia’s Petronas are moving resources away from Malaysia Oil & Gas and are apparently seeking greener O&G pastures elsewhere, halfway around the world.
Murphy Oil is in the process of selling all of their Malaysia O&G assets for around USD $2 billion in cash, and Petronas apparently plans to shift toward spending more money for E&P overseas than at home in Malaysia.
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“… Mexico is a core strategic place for Petronas, said the company’s head of exploration in Mexico, Puteri Nurlina. “There are big opportunities in Mexico, and that is reflected in the number of blocks our company has,” she added.
With 10 blocks, Petronas is the largest acreage holder in Mexico after state oil company Pemex. The company and its partners have pledged to drill nine offshore exploration wells as part of its bidding commitments. …”