Newfield to sell equity interest in offshore Malaysia business

Newfield Exploration Co. has signed a share purchase agreement to sell all of its equity interests in Newfield Malaysia Holdings to SapuraKencana Petroleum Berhad for $898 million.

Offshore staff

THE WOODLANDS, Texas – Newfield Exploration Co. has signed a share purchase agreement to sell all of its equity interests in Newfield Malaysia Holdings to SapuraKencana Petroleum Berhad for $898 million. The agreement, which is expected to close in early 2014, is subject to approval from Petronas.

Newfield plans to use the proceeds from the sale of its Malaysian assets to pay down existing debt and general corporate purposes.

10/22/2013

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