Reliance Universal, a private company, purchased Novus's 26.03% working interest in the Malacca Strait PSC while an unidentified third party purchased Novus's 15% working interest in Lematang PSC.

Novus said the divestment of the Indonesian assets is line with its strategy of focusing on exploring in areas where discoveries can be quickly commercialised such as the US and Arabian Gulf regions.

Novus added it will retain the Kakap and Brantas properties, which are significant cash and profit generators for the company.