Malaysia's Petronas Says Open to Selling Assets in Africa


KUALA LUMPUR, Dec 11 (Reuters) - Petroliam Nasional Bhd (Petronas), Malaysia's state oil company, said it is ready to divest certain assets in Africa if growth prospects are limited.

"We are looking at where we can divest in Mauritania and Cameroon," Sharbini Suhaili, vice-president for Petronas' international upstream operations, said at a media briefing on Thursday.

Petronas has one block in Mauritania producing 6,000 barrels of oil a day, and several gas assets in Cameroon, he said.

Unlisted Petronas, which accounts for most of the Malaysian government's oil and gas revenue, previously said the fall in oil prices could have a short-term impact on its projects.

Brent crude remained below $65 a barrel on Thursday.

"We continue to look at opportunities with value growth. We may divest if it has no value," he said. Petronas is open to selling its assets in the two countries if it receives an attractive offer for them.

(Reporting by Harpreet Bhal and Al-Zaquan Amer Hamzah; Editing by Prateek Chatterjee)

Copyright 2016 Thomson Reuters. Click for Restrictions.


Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies

Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Technical Coordinator
Expertise: Client Representative|Process Management|Technical Writing
Location: Houston, TX
Executive Assistant
Expertise: Executive|Secretarial or Administrative
Location: United States
Regional Manager - Saybolt
Expertise: Executive|Operations Management
Location: Linden, NJ
search for more jobs

Brent Crude Oil : $51.78/BBL 0.77%
Light Crude Oil : $50.85/BBL 0.83%
Natural Gas : $2.99/MMBtu 4.77%
Updated in last 24 hours