Murphy Sabah Oil Co., Ltd. and Murphy Sarawak Oil Co. Ltd. have closed on the first phase of the sale of 30% of Murphy's Malaysian oil and gas assets to PT Pertamina Malaysia Eksplorasi Produksi , Murphy Oil Corp. said in a news release.
The deal was originally announced on Sept. 30, 2014.
The first phase covers two-thirds of the transaction or 20% of Murphy’s Malaysian oil and gas assets with the remaining portion scheduled to close in first-quarter 2015. The transaction has an aggregate purchase price of $2 billion and an effective date of Jan. 1, 2014, according to the release.
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