2024-01-31 15:21:35
The partially state-listed oil and gas company OMV is selling its half share in the Malaysian oil and gas company SapuraOMV to the French energy group TotalEnergies. The purchase price of 903 million US dollars (around 833 million euros) includes the full repayment of the outstanding shareholder loan of 350 million dollars granted to the company by OMV, OMV announced on Wednesday.
OMV expects the transaction to be completed towards the end of the second quarter. The deal is still subject to the approval of certain partners as well as official and regulatory approvals.
SapuraOMV, headquartered in Kuala Lumpur, is a 50:50 joint venture between Sapura Energy Berhad and OMV, founded in 2019. The Company has production and development assets in shallow waters offshore Malaysia, as well as exploration interests in Mexico, Australia and New Zealand.
OMV only joined Sapura in 2019 and paid $540 million for the half share. However, the withdrawal from Malaysia was announced at the beginning of 2023.
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