The race to acquire Sapura Energy Bhd?s 50% stake in exploration and production outfit SapuraOMV Upstream Sdn. Bhd. has been narrowed down to two players Abu Dhabi state fund Mubadala (Mamoura Diversified Global Holding PJSC) and French multinational energy company TotalEnergies SE (ENXTPA:TTE), banking sources say.

While the bids are close, The Edge is given to understand that TotalEnergies?s offer may be a tad higher than Mubadala?s. However, one source was quick to point out that the offer price is just one of several considerations, and indicated that Mubadala is still very much in the running. In an email response to The Edge on whether the 50% stake sale in SapuraOMV has become a two-horse race, Sapura Energy says, ?Several parties have indeed expressed interest in our equity in SapuraOMV, and we are currently conducting the sale process. However, we are unable to comment further at this time to maintain the confidentiality and integrity of this exercise.?

TotalEnergies did not respond to a query while Mubadala could not be contacted.