In an interview with Bloomberg and as reported in the media, Energy XXI is looking to buy offshore assets in south-east Asia. The company is evaluating prospects, including offshore Malaysia, and hopes to make a purchase in the next 12-18 months. Chairman and CEO of Energy XXI, John Schiller said: "When we look around the world, places like Southeast Asia, the geology's very similar (to Gulf of Mexico), the sand's very similar."
Interestingly, South East Asia will see expenditure of > $3 billion on upcoming deepwater projects in the next 5 years with the most in Indonesia followed by Malaysia.
The developments in the region are primarily LNG projects such as Kebabangan in Malaysia and Gendalo-Gehem in Indonesia.
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