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Murphy Oil's Malaysia assets draw interest from Mitsubishi, ONGC -sources
July 17, 2014 / 9:00 AM / 3 years ago

Murphy Oil's Malaysia assets draw interest from Mitsubishi, ONGC -sources

July 17 (Reuters) - 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 is confidential. (Reporting by Denny Thomas, Nidhi Verma and James Topham; Additional reporting by Sumeet Chatterjee and Aman Shah; Editing by Tom Hogue)

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