OGJ Newsletter

10/28/2013
GENERAL INTEREST — Quick Takes Newfield to sell offshore Malaysian business Houston independent Newfield Exploration Co. has signed a share purchase agreement to sell all of its equity interests in Newfield Malaysia Holdings to SapuraKencana Petroleum Bhd. for $898 million. The deal is expected to close in early 2014. The agreement is subject to the approval of state-owned Petronas under the applicable production-sharing contracts, the buyer's shareholder approval, and customary closing conditions. Newfield plans to offer preferential rights to its partners under the joint operating agreements. Newfield said the agreement was executed after it conducted a bidding exercise involving more...
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