Petroliam Nasional Berhad (Petronas) plans to dispose 10% stake in Petronas LNG 9 Sdn Bhd (PL9SB) to the Government of Sarawak.
PL9SB owns the LNG liquefaction Train 9 facility located within the Petronas LNG Complex in Bintulu, Sarawak, Malaysia.
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The facility began commercial operations in January and has a production capacity of 3.6 million tonnes a year.
Petronas LNG 9 will be owned by Petronas (80%), JX Nippon Oil (10%) and Government of Sarawak (10%) upon completion of the transaction.
FrontRow Energy Technology Group has completed the acquisition of a 50% stake in Clearwell Oilfield Solutions from MSL Oilfield Services.
Clearwell Oilfield offers flow assurance and scale prevention systems for upstream and downstream segments of the oil and gas industry.
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By GlobalDataClearwell Oilfield is currently owned by FrontRow Energy (50%) and MSL Oilfield (50%). The acquisition helps FrontRow Energy to expand its service portfolio.
Ineos Group has agreed to acquire DONG E&P from DONG Energy for up to $1.3bn. The purchase consideration includes contingent payments of $250m.
DONG E&P holds interests in ten producing fields in Denmark, Norway and the UK. The commercial and potential oil and gas reserves of DONG E&P are estimated to be approximately 570mmboe.
J.P. Morgan & Co. has been appointed as financial advisor by DONG Energy for the transaction.
Scheduled for completion in the third quarter of this year, the transaction will allow Ineos Group to extend its upstream assets base and expand its trading and shipping operations.
Udenna Management & Resources Corp. (UMRC) and Udenna Corporation (Udenna) have sold 340 million shares, representing 25.04% stake, in Phoenix Petroleum Philippines to ES Consultancy Group through a special block sale at the stock exchange.
UMRC and Udenna disposed 19.49% and 5.55% stakes respectively through the transaction, which involved a consideration of $80.3m.
The proceeds from the sale are intended to be used by the companies to partially fund Udenna Development Corp.’s integrated resort and casino project in Cebu.
