Majors and US independents leave southeast Asian gap
A rush to US shale has left opportunities for others in areas left behind
US independent Murphy Oil became in March the latest US independent to exit Asia in preference for concentrating on US shale and America's deep-water assets. The firm will sell its Malaysian production and reserves to Thailand's state oil firm PTTEP for over $2bn. Murphy plans "to continue its current oil-weighted strategy in both the Eagle Ford shale and the Gulf of Mexico, while maintaining its focused exploration plan". Thus $750mn of the proceeds of its PTTEP deal will be earmarked for US oil-weighted opportunities through potential acquisitions and/or the funding of both deep-water projects and US onshore opportunities, the firm says. "Murphy had been keen to sell their assets for quite
Also in this section
15 May 2025
Financial problems, lack of exploration success and political dogma cause uncertainty across much of the region
14 May 2025
The invisible hand of the market has seen increasing transparency but much more needs to be done to build a better understanding
13 May 2025
A fall in Venezuelan output drives overall production lower, as Saudi Arabia starts to slowly bring more crude to the market
12 May 2025
With the gas industry’s staunchest advocates and opponents taking brutal blows, the sector looks like treading a path of insipid indifference
