Oil India Eyeing Stake in Murphy Oil's Malaysia Assets

State owned Oil India is looking to bid for part of Murphy Oil Corp.’s assets in Malaysia, news agency Bloomberg reports.

Sources close to the matter have told Bloomberg the Indian firm is interested in buying about a 30% stake in Murphy Oil’s Malaysian assets.

The holding may be valued at least at $2 billion, the people said, says the news agency.

Murphy holds majority interests in seven separate production sharing contracts (PSCs): Block K, Block H, Block P, SK 309, SK 311 and SK 314A, and three gas holding agreements in PM 311, according to its website. In 2013, our Malaysia net production was about 86,000 boepd, and we booked total proved reserves 125 MMBO and 406 BCF, the website adds.

These assets accounted for more than 40% of the company’s total net production in 2013.

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