Murphy Oil Corp. is reported to be selling over US$2 billion of its Malaysian oil and gas assets.
The assets account for up to 30% of Murphy’s stake in its Malaysian assets, sources said.
The company is currently seeking bidders for a first round in June.
Arkansas-based Murphy Oil hasn’t comments on the reports.
Murphy has had interests in Malaysia since 1999, where it has majority interests in seven separate production-sharing contracts, accounting for 40% of Murphy’s global production.
In the U.S., Murphy has interests in Eagle Ford shale operations in southern Texas and offshore exploration acreage in the Gulf of Mexico.
In March, Murphy Oil won 16 new blocks in the central Gulf of Mexico.
Last month, it started natural gas production at its Dalmatian field in the Gulf.
Overseas, Murphy also has interests in Vietnam, with two deep water blocks and one shallow water block.
In Indonesia, it has four gas exploration assets, and in Brunei, it has two production sharing agreements.