Upstream assets available for sale across Southeast Asia

More than $5 billion of upstream assets are available for sale across Southeast Asia, according to Norwegian Rystad Energy.

Most of the opportunities are in Indonesia, where more than $2 billion of assets are on the market. This is followed by Malaysia and Vietnam with about $1.4 billion and $1 billion of upstream assets for sale.

Deals totaling $700 million have already been completed in the region this year. This is the strongest start to upstream activity in Southeast Asia since 2019.

According to Rystad, among the potential assets available, 74% are in the pre-final investment decision stage, while 21% are already in production and the remaining 5% are under development.

“The sheer magnitude of the oil and gas deals in the region will reignite the sector. This will reduce reliance on national oil companies and major players that has developed in recent decades,” said Prateek Pandey, vice president of upstream research in Rystad.

Administrative reforms implemented in Malaysia, Indonesia and Thailand are said to have boosted interest from energy majors in these countries. Vietnam and Cambodia are now seeking to enact similar processes to stimulate investments and transactions.


About Miabell Mallikka

Miabell Mallikka is a journalist working with ScandAsia at the headquarters in Bangkok.

View all posts by Miabell Mallikka

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