By Mauro Orru

OMV AG is looking into the possibilities of selling its exploration and production assets in the Asia-Pacific.

The Austrian oil-and-gas company said Monday that it had launched a sales process for the potential divestment of its 50% stake in SapuraOMV Upstream Sdn. Bhd. in Malaysia, and 100% of OMV New Zealand Limited.

OMV said it would ask interested parties to initially submit expressions of interest, followed by binding offers at a later stage. However, the company said a potential sale would be subject to the approval of its supervisory board and relevant governmental authorities.

Write to Mauro Orru at mauro.orru@wsj.com

(END) Dow Jones Newswires

February 27, 2023 13:22 ET (18:22 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
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