July 17 Japan's biggest trading house Mitsubishi
Corp has submitted a non-binding bid to buy Murphy Oil
Corp's Malaysian oil and gas assets valued at about $2.5
billion, a person familiar with the matter told Reuters.
India's state-owned Oil & Natural Gas Corp and Oil
India Ltd are among the other suitors preparing to
submit bids for the Murphy assets, separate sources said.
It was not immediately clear if the two Indian companies
would submit a joint bid as they have done in the past for
overseas energy assets.
Arkansas-based Murphy, which has interests in oil and gas
fields in Malaysia, Vietnam, Indonesia, Brunei and Australia,
has invited bids for a 30 percent stake in its Malaysian assets,
Reuters previously reported.
A Mitsubishi spokeswoman declined to comment. ONGC Videsh,
the overseas business arm of ONGC, also declined to comment.
Oil India and Murphy did not respond to e-mails seeking
comment. Sources declined to be identified as the sale process
(Reporting by Denny Thomas, Nidhi Verma and James Topham;
Additional reporting by Sumeet Chatterjee and Aman Shah; Editing
by Tom Hogue)