Petronas, ConocoPhillips Sign PSC for Block Offshore Sabah, Malaysia

Petronas Awards PSC Offshore Malaysia to Shell, ConocoPhillips

PETRONAS has awarded a Production Sharing Contract (PSC) for Block SB311 offshore Sabah to a partnership of ConocoPhillips Sabah Gas Ltd., Shell Energy Asia Limited and PETRONAS Carigali Sdn Bhd.

The block, measuring 1,046 square kilometres, is located in the central part of the Sabah Basin in water depths ranging from 50 to 100 metres. The area is located within a proven hydrocarbon fairway with key discoveries such as Kebabangan, Kinarut, and Erb West.

Under the terms of the PSC, ConocoPhillips will operate the block with a participating interest of 40 per cent. PETRONAS Carigali and Shell Energy Asia will each own a 30 per cent interest in the block.

For the SB311 PSC, the partners are committed to drill two wildcat wells, acquire 400 line km of new 2D seismic data and re-process existing 3D seismic data on the block.

The PSC was signed late yesterday at the PETRONAS Twin Towers in Kuala Lumpur. PETRONAS was represented by its Executive Vice President of Exploration and Production Business Dato’ Wee Yiaw Hin and ConocoPhillips by its President of ConocoPhillips Asia Pacific Joseph P. Marushack.

The other two partners, Shell Energy Asia Pacific and PETRONAS Carigali were respectively represented by its Vice President Malaysia & Chairman Shell Malaysia,  Iain Lo and PETRONAS Vice President & Chief Executive Officer of PETRONAS Exploration, Encik Effendy Cheng Abdullah.

December 13, 2012

 

Share this article

Follow Offshore Energy Today

Events>

<< Sep 2016 >>
MTWTFSS
29 30 31 1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28 29 30 1 2

Oil & Gas Vietnam (OGAV) Exhibition 2016

Oil & Gas Vietnam (OGAV) 2016 is the only specialized Oil & Gas event in Vietnam that brings together an international congregation of both upstream and downstream Oil and Gas companies and also its supporting industries gathered in the heart of Vietnam’s Oil and Gas industry in Vung Tau, to showcase the latest developments in the industry.

Highlights of OGAV 2016

Oil & Gas networking Nite
Oil & Gas Technology Seminars
Vietnam Oil & Gas Conference

More Info

read more >

Pipeline Week 2016

Include the Pipeline Week as a key component of your marketing strategy. If your company has involvement in the following areas, this event…

read more >

Offshore Marintec Russia

The new event runs in even-numbered years and is a conceptual follow-up of the most famous national shelf development forum RAO/CIS Offshore…

read more >

Offshore Technology Days 2016

2016 will be a crucial year for many suppliers to an oil industry under increasing pressure. Everyone is cutting costs and scrutinizing which…

read more >

Jobs>

Electrician

For one of our clients we are looking for a Ships Electrician. Our client is a company with worldwide activities. You will work in a rotation of 4 till 6 weeks on and off.

apply

Assistant Driller

Maersk Drilling Norge AS was established in 1990 and employs a staff of approximately 1000 people.

apply

QC Coordinator Offshore

Do you attach great importance to quality and do you have an affinity with offshore projects? Then read about what Van Oord can offer you.

apply