OMV AG would acquire 50% of Sapura Upstream Sdn. Bhd. under a heads of agreement it has entered with parent Sapura Energy Bhd., Seri Kembangan, Malaysia, to form a strategic partnership.
The proposed transaction has an enterprise value of $1.6 billion, according to Sapura Energy, an integrated oil and gas services provider and sole owner of Sapura Upstream.
Sapura Upstream holds acreage off Sarawak and in New Zealand, the Gulf of Mexico, and Australia.
