07:47 AM EDT, 07/19/2024 (MT Newswires) -- Exxon Mobil ( XOM ) has agreed to sell its oil and gas assets in Malaysia to state energy firm Petronas, Reuters reported Friday, citing two unnamed sources with direct knowledge of the matter.

The move marks the company's exit from Malaysia's upstream sector, Reuters said. Three sources told the news outlet that Petronas has taken over the operations of Exxon's assets, including the Tapis oilfield in Terengganu.

Financial details of the deal were not immediately known, Reuters said.

However, as part of the deal, Exxon's employees would be transferred to Petronas, according to a source.

Petronas and Exxon Mobil ( XOM ) did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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