Sources: ExxonMobil selling Malaysia O&G assets to Petronas

SINGAPORE, July 20 — Exxon Mobil Corp has agreed to sell its Malaysian oil and gas assets to state energy firm Petronas, exiting the country’s upstream sector where it used to...

A file photograph shows the Petronas logo against the backdrop of the Petronas Towers in Kuala Lumpur. ― Picture by Yusof Mat IsaSINGAPORE, July 20 — Exxon Mobil Corp has agreed to sell its Malaysian oil and gas assets to state energy firm Petronas , exiting the country’s upstream sector where it used to be a dominant producer, two sources with direct knowledge of the matter said.

Petronas has taken over operations of Exxon’s assets, including the country’s flagship Tapis oilfield in Terengganu which began production in 1978, three sources said. The company operates 35 oil and gas platforms in 12 fields offshore Terengganu, and has a working interest in another 10 platforms in five fields in the South China Sea.

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