Newfield Exploration Sells Its Malaysian Offshore Interests For $898 Million To Sapurakencana Petroleum Berhad

The Texas-based group, Newfield, is understood to have sold its Malaysian businesses as part of a wider strategy to focus on the US. The deal was signed on 22 October 2013. Legal Due Diligence Provider: Partner Giulia Carloni commented: "The team included myself, Alan Jones and Ayad Ridha. We were involved in undertaking the legal due diligence on all the nine oil and gas blocks, drafting and negotiating the Share Purchase Agreement as well as considering transitional services arrangements and preferential rights issues. The nature of the deal was highly complex in light of the international cross-border issues and the fact that although this was a share acquisition, we had to translate the concepts and mechanics of a share deal structure into an asset deal." To see the full article: