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Southeast Asian NOCs take different paths
Petronas, PTT and Pertamina are pursuing divergent strategies after coming to dominate the region’s upstream in recent years
Letter from Singapore: Exploring Southeast Asia’s upstream mix
The region’s upstream is not just a space for NOCs
Shell makes Malaysian FID
Peak production on the Timi gas development is forecast at 50,000bl/d oe
Malaysia awards another offshore block to Shell
The major has been awarded another block by NOC Petronas, but government involvement remains vital
Jadestone advances Malaysian acquisitions
The Singapore-based firm is the latest independent to expand its upstream portfolio through the purchase of divested assets, this time in Malaysia
Malaysian indie Hibiscus eyes regional growth
The company’s expansion will not end with its recent acquisition of Repsol assets in Southeast Asia, says managing director Kenneth Pereira
Malaysia sweetens upstream deals
The country is taking measures to encourage IOC interest in its latest licensing round
Neptune targets four projects under Norway’s enhanced tax regime
The London-headquartered producer hopes to fast-track FIDs to hit the 2022 deadline for relief
Licensing round March update
The industry's most comprehensive list of current and recent rounds for onshore and offshore licences
Southeast Asia evolves into an NOC universe
The trend for the region’s operators to play a bigger role looks set to continue
Malaysia Philippines M&A
Craig Guthrie
9 December 2019
Follow @PetroleumEcon
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Independents seize Southeast Asia M&A initiative

As the majors exit, ambitious small and mid-sized entrants are challenging NOCs' dominance in the asset purchase market

Philippine conglomerate Udenna’s purchase of a 45pc stake in Chevron’s offshore Malampaya field on 13 November may signal that a shift is underway in the regional M&A scene, as majors with an eye on divestment offload Southeast Asian assets. The entry of Davao City-based Udenna— with interests from retail petroleum and infrastructure to tourism and fast food—into the $4.5bn Malampaya project suggests that national oil companies (NOCs) face competition for deals resulting from the vast disposal programmes of majors refocusing on US deepwater and shale. The executive chairman of Malaysia’s Dialog Group, Ngau Boon Keat, said in November that his oil and gas services firm was mulling the acq

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