ExxonMobil to transfer operations of assets of 2 production-sharing contracts in Malaysia to Petronas-March 2024-www.financetom.com

ExxonMobil to transfer operations of assets of 2 production-sharing contracts in Malaysia to Petronas

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ExxonMobil to transfer operations of assets of 2 production-sharing contracts in Malaysia to Petronas

Jul 20, 2024 7:07 AM

SINGAPORE, July 20 (Reuters) - Exxon Mobil Corp ( XOM )

intends to transfer the operations of all assets of two

production-sharing contracts in Malaysia to state energy company

Petronas, Exxon Mobil ( XOM ) said on Saturday.

Reuters had reported on Friday that Exxon Mobil ( XOM ) has

agreed to sell its Malaysian oil and gas assets to Petronas,

citing two people with direct knowledge of the matter.

"This is not a sale and there will be no changes to

EMEPMI's working interest in the Production Sharing Contracts,"

ExxonMobil Exploration and Production Malaysia Inc, or EMEPMI,

the company said in a statement to Reuters.

"This does not impact our other businesses in Malaysia - we

remain committed to conducting business here as we have for more

than 130 years," it added.

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