MUMBAI, July 31 India's state-owned Oil &
Natural Gas Corp and Oil India Ltd have
submitted a joint bid worth about $1.5 billion to buy Murphy Oil
Corp's Malaysian oil and gas assets, sources directly
involved in the process said.
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.
India's state explorers including ONGC, India's largest oil
and gas exploration company, have been looking overseas as they
struggle to boost the country's energy security and arrest
decline from local gas fields.
S.P. Garg, acting managing director of ONGC Videsh, ONGC's
overseas business arm, was not available for a comment, while
Oil India Chairman Sunil Kumar Srivastava declined to comment.
Murphy Oil did not respond to a request for comment.
(Reporting by Nidhi Verma and Sumeet Chatterjee; Editing by Tom