PTTEP, a Thailand national petroleum exploration and production company, completed a $2.1bn acquisition of Murphy Sabah Oil and Murphy Sarawak Oil, two subsidiaries of Murphy Oil. “After 20 years of successful operations in Malaysia, I am pleased to announce this all-cash transaction benefiting our shareholders by fully monetizing our proved and probable reserves. The tactical repositioning of Murphy allows us to simplify our business and focus on our core assets in the Western Hemisphere. The transaction will provide us with greater financial flexibility and allow us to continue returning cash to our shareholders through share repurchases,” Roger W. Jenkins, Murphy's President and Chief Executive Officer.