On 21 March 2019, Murphy Oil announced that it has signed a sale and purchase agreement to divest its entire Malaysian portfolio to PTT Exploration and Production (PTTEP) in an all-cash transaction valued at US$ 2.127 billion. Effective date of the transaction is dated on 1 January 2019, with completion date expected to occur by end of the Q2 2019. Closing of the transaction is subjected to necessary regulatory approvals. The transaction is payable upon closing of the deal and subject to customary closing adjustments, plus up to a US$ 100 million bonus payment contingent upon certain future exploration drilling results prior to 2020.    Murphy has equity in eight PSCs and are under two subsidiaries, Murphy Sarawak Oil Company Limited and Murphy Sabah Oil Company Limited. The assets have a net 1P reserves of 129 MMboe with 46% developed and 54% undeveloped. The 2018 total net production for Malaysia was over 48,000 boe/d with 62% liquids.  The table below shows Murphyâs asset in Malaysia and its interest.          BLOCKS         AWARD DATE         MURPHY'S SHARE         PARTNERS         FIELDS             SARAWAK         SK-309         27 Jan 1999         59.50%         PT Pertamina          25.50%         Â              Petronas Carigali         15%         Â              SK-311         27 Jan 1999         59.50%         PT Pertamina          25.50%         South Acis (P), Permas (P), Serampang (P), Sapih, Mahkota,   Wangsa, Tiram             Petronas Carigali         15%             SK-2C (Paus)         24 May 2004         80%         Petronas Carigali         20%         Paus              SK-314A         7 May 2013         59.50%         PT Pertamina          25.50%         Â              Petronas Carigali         15%         Â              SK-405B         1 Nov 2017         59.50%         MOECO         25.50%         Â              Petronas Carigali         15%         Â              SABAH         Block H         19 Mar 1997         42%         Petronas Carigali         40%         Â              PT Pertamina          18%         Â              Block K         27 Jan 1999         42%         Petronas Carigali         40%         Gumusut-Kakap (P), Siakap North-Petai (P)             PT Pertamina          18%             Block K (Kikeh)         27 Jan 1999         56%         PT Pertamina          24%         Kikeh (P)             Petronas Carigali         20%             * P = Producing                               * SK-2C is excluded the deal
PTTEP acquired all Murphyâs assets in the country, for US$2,13 billion: deep-water producing assets in Sabah (K project) and shallow-water producing assets in Sarawak (SK309 & SK311), as well as other non-developed assets. Murphy is currently operator of all its assets off Malaysia, with the exception of the GK field, which is operated by Shell. PTTEP is getting its hands on assets that had average production net to Murphy last year of 48 000 boe/d, 62% of which is oil.