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PTTEP wraps up $2.1bn Malaysian acquisition

Thai operator completes deal for Murphy Oil's assets off south-east Asian nation

Thailand’s PTT Exploration & Production (PTTEP) has wrapped up its $2.1 billion acquisition of Murphy Oil’s Malaysian assets.

PTTEP confirmed Wednesday it had closed the deal which had originally been agreed in March this year and includes producing and exploration acreage off Sabah and Sarawak, East Malaysia.

It added the closing of the deal added incremental petroleum sales volumes of roughly 48,000 barrels of oil equivalent per day, ramping up to 60,000-70,000 boepd in 2022.

The already producing fields include Kikeh on Sabah Block K and West Patricia on the SK309 & SK311 project, of which PTTEP will become operator.

Adding soon to production will be the Rotan gas field on Sabah Block H which is set to come onstream in the second half of 2020 and will supply 270 million cubic feet per day of gas to a Petronas floating liquefied natural gas unit, the PFLNG Dua.

Meanwhile Sarawak blocks SK 314A and SK 405B are currently in the exploration phase.

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