Murphy Oil’s wholly owned subsidiaries, Murphy Sabah Oil Co., Ltd. and Murphy Sarawak Oil Co., have closed on the second phase of the sale of 30% of Murphy’s Malaysian oil and gas assets to PT Pertamina Malaysia Eksplorasi Produksi, a news release said.
The second phase covers the remaining one-third of the transaction or 10% of Murphy's Malaysian oil and gas assets. The first phase for two-thirds of the transaction closed on Dec. 18, 2014, according to the release.
The total transaction for 30% of Murphy's Malaysian oil and gas assets had an aggregate sale price of $2 billion, subject to normal closing adjustments, with an effective date of Jan. 1, 2014.
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