KUALA LUMPUR: Exxon Mobil Corp is considering a sale of its Malaysian upstream offshore assets as the US energy giant continues with its divestiture programme, according to people with knowledge of the matter.
Exxon has started sounding out potential buyers, although sale considerations are at a preliminary stage and the company could still decide against a transaction, the people said. Potential bidders for the assets could include other major energy companies with an interest in the region, the people said.
A sale would follow Exxon’s sale of its US$4.5 billion Norwegian assets last month, which is part of the company’s divestment plan designed to help fund one of the biggest corporate turnarounds in its history after years of stagnating production and a stock-price that has underperformed rivals.