Skrine advises Halliburton on sale of partial stake in Bayan Project to Dialog Group Berhad
27 August 2019
Asia Energy Services Sdn. Bhd. (“AES”), an indirect wholly owned subsidiary of Halliburton Corporation today completed its disposal of a 25% equity interest in Halliburton Bayan Petroleum Sdn. Bhd. (“HBP”) to Dialog D & P Sdn. Bhd. (“Dialog D & P”), a wholly owned subsidiary of Dialog Group Berhad, a Malaysian listed integrated oil & gas company. Post-completion, AES will continue to hold 25% equity interest in HBP with the remaining equity being held by Dialog D & P.
HBP is the independent technical service contractor for the Oilfield Services Contract entered into with Petronas Carigali Sdn. Bhd., to provide Contractor Services required to enhance the recoverable reserves from the Bayan Field. The Bayan Field is located offshore Bintulu, Sarawak with a term of 24 years (up to 2036).
Skrine advised Haliburton on all aspects of the transaction with the team being led by oil & gas partner, Fariz Abdul Aziz and supported associates, Karyn Khor and Jeralyn Kan.