Petronas, TotalEnergies, Shell ink PSC for ultra-deepwater block offshore Malaysia

Must Read

OilNOW
OilNOW
OilNOW is an online-based Information and Resource Centre

Malaysia’s Petronas has signed a Production Sharing Contract (PSC) with TotalEnergies, Petronas Carigali, and Shell for Block 2K, an ultra-deepwater block off the coast of Sabah, Malaysia.

Petronas said that Block SB 2K, with a depth of up to 3,000 meters, covers an area of 1,952 square kilometres (km) and is located in the prolific north-west ultra-deepwater area within a proven hydrocarbon basin with promising hydrocarbon potential.

Petrobras finds gas at Uchuva well, offshore Colombia | OilNOW

Under the PSC terms, TE – a wholly owned subsidiary of France-based TotalEnergies SE – will be the operator with a 34.9% participating interest. Petronas Carigali will hold a 40% stake, and Shell the remaining 25.1%.

“The signing of the PSC for Block 2K completes the licensing of the five ultra-deepwater blocks off the coast of Sabah, along the newly identified Oligo-Miocene carbonate trend proven by Tepat-1 oil discovery in Block N in 2018. Block 2V was signed last year, followed by Blocks 2W and X early this year,” said Petronas’ Senior Vice President of Malaysia Petroleum Management (MPM), Mohamed Firouz Asnan.

Petronas says development of gas find off Bintulu coast, Malaysia, can be expedited | OilNOW

“A total of four wells are expected to be drilled in these ultra-deepwater blocks in 2022 and 2023, to explore within this emerging hydrocarbon province,” he added.

The five blocks come with available 3D seismic data from a recent mega multi-client survey, which will accelerate exploration drilling programmes. Additional data is also available through PETRONAS myPROdata, the company said.

- ADVERTISEMENT -
[td_block_social_counter]
spot_img

Partnered Events

Latest News

Guyana, India to explore cooperation in hydrocarbons sector

Guyana and India signed memoranda of understanding (MoU) for cooperation in multiple sectors, including hydrocarbons. The signings were executed...

More Articles Like This