According to some sources with knowledge of the matter, ExxonMobil Corp. has narrowed the bidders’ list of its Malaysian asset.
EnQuest Plc. and Hibiscus Petroleum Bhd. are between those on the list. Deliberations are ongoing and the bidders might not proceed with an offer, added the sources.
ExxonMobil started the process to sell its oil-producing offshore Malaysian assets last year as part of its global divestiture program. The bidding could potentially raise USD2 billion to USD3 billion in a sale.
The company’s assets in Malaysia include a 30% stake in the offshore Tapis Blend operations.
