CLIQ Energy Eyeing Oil, Gas Assets in Asia, Oceania

Malaysia’s CLIQ Energy is eyeing five oil and gas fields for acquisition, managing director and CEO Ahmad Ziyad Elias said.

These assets under consideration are spread across Asian and Oceania regions, The Sun Daily reported.

"We're looking at realistically one year (to conclude the acquisition) after signing the memorandum of agreement or non-disclosure agreement with the asset owner," Ahmad Ziyad Elias told reporters.

The company is targeting small- to medium-size assets, with relatively low to moderate risk, the Sun Daily added.

"We're looking at a minimum investment of $50 million for asset in the appraisal stage, which is at the lower end of the exploration and production (E&P) hierarchy," said Ahmad Ziyad.