PETALING JAYA: Deleum Bhd
will acquire oilfield services assets and business in Thailand for RM60mil.
The oil and gas company said the move is part of its strategic growth plan for regional expansion.
Deleum, through its subsidiary Deleum Oilfield Solutions (Thailand) Co Ltd (DOST), will purchase assets including slickline, hydraulic workover and well head maintenance from MPC Future Co Ltd.
The purchase consideration will be satisfied through a combination of cash payment and issuance of new shares in DOST, it said.
This will result in Deleum holding a 49.93% stake and MPC a 48.34% stake in DOST after the transaction, it added.
“The proposed acquisition is aligned with Deleum’s strategy to strengthen its regional footprint and enhance its service offerings beyond Malaysia,” it said.
Barring unforeseen circumstances, the company expects the acquisition to be completed within the second half of 2025.
