On 12 September 2018, Sapura Energy announced that it has entered into a Heads of Agreement with OMV Aktiengesellschaft (OMV AG) for a proposed sale of 50% stake in its wholly-owned subsidiary, Sapura Upstream.   The proposed transaction is based on an enterprise value of US$ 1.6 billion (RM 6.5 billion). Negotiations between two parties are currently on-going.   The deal is in line with OMVâs plan to expand its exploration business in Southeast Asia by end of 2018. Earlier this year, OMV expanded its operations in New Zealand through acquisition of Shellâs upstream assets, Pohokura and Maui fields and Great South Basin (GSB) exploration block.   Sapura Energy operators in six PSCs and partner with Petronas Carigali in two PSCs in Malaysia. It also has assets in newly acquired acreages in New Zealand, Gulf of Mexico and Australia.   The table below shows Sapuraâs assets in Malaysia and its interest.          Â          BLOCKS         STATUS*         SAPURAâS   SHARE         PARTNERS             1         Peninsular Malaysia         PM-323         OP         60%         Petronas Carigali         40%             2         PM-329         OP         70%         Petronas Carigali         30%             3         PM-318         Â          50%         Petronas Carigali (OP)         50%             4         PNL/Abu Cluster         Â          50%         Petronas Carigali (OP)         50%             5         Sarawak         SK-408         OP         40%         Sarawak Shell Berhad   Petronas Carigali         30%   30%             6         SK-310         OP         30%         Petronas Carigali   Diamond Energy Sarawak         40%   30%             7         Sabah         SB-331         OP         70%         Petronas Carigali   Sabah International Petroleum (SIP)         20%   10%             8         SB-332         OP         70%         Petronas Carigali   Sabah International Petroleum (SIP)         20%   10%        *Â Â Â Â Â Â Â Â  OP = Operator
On 12 September 2018, Sapura Energy announced that it has entered into a Heads of Agreement with OMV Aktiengesellschaft (OMV AG) for a proposed sale of 50% stake in its wholly-owned subsidiary, Sapura Upstream. The proposed transaction is based on an enterprise value of US$ 1.6 billion (RM 6.5 billion).