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Report: Petrofac looks to sell Malaysian assets for about $300M

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Essential Energy Insights - January 2021


Report: Petrofac looks to sell Malaysian assets for about $300M

Oilfield services provider Petrofac Ltd. is studying the potential sale of its Malaysian assets for about $300 million, Bloomberg reported, citing people with knowledge of the matter.

A source told Bloomberg that the asset sale could include a stake in PM304, which is an offshore oil field development.

The company is gauging interest from potential buyers on the possible sale.

In September, Petrofac signed an agreement to sell its remaining 51% stake in Mexican operations to its partner Perenco (Oil & Gas) International Ltd for up to $276 million.