SINGAPORE/HONG KONG (June 5): The sale by Malaysian energy firm Petronas of an estimated US$1 billion stake in a local upstream gas project has moved to the second round and is set to attract interest from about half a dozen bidders including Royal Dutch Shell and ExxonMobil Corp, four sources familiar with the matter said.
State-owned Petroliam Nasional Bhd (Petronas) had kicked off a process to sell a stake of up to 49% in the SK316 offshore gas block in Malaysia's Sarawak state, Reuters reported in February.
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