Hanoi (VNA) – Malaysia’s Petroliam NasionalBhd (Petronas) has signed Production sharing contracts (PSCs) for five offshoreexploration blocks, enabling the state-owned oil and gas firm to attract acapital commitment of about 600 million RM in exploration activities inMalaysia.
This will reflect the the attractiveness of thecountry’s hydrocarbon resources potential, Petronas senior vice-president ofMalaysia Petroleum Management (MPM) Mohamed Firouz Asnan said in a statementafter signing the PSCs on behalf of the company.
“The reduction in global exploration drilling over thepast two years has pressured the industry to resolve current supply shortages.As global economies have started to recover post-pandemic, the industry needsto ensure exploration activities continue to sustain production,” he was quoted by the Malaysian National News Agency (Bernama) as saying.
“Petronas is committed to reducing carbon emissionsfrom our operations with technologies such as carbon capture and storage,” hesaid, adding that Petronas looks forward to working together with its partnersto provide safe and reliable energy to the market.
Among the offshore exploration blocks include SB412,2W and X off the coast of Sabah, and SK439/SK440 off the coast of Sarawak.
Block SB412 in Sabah was signed between Petronas,PTTEP HK Offshore Limited and SapuraOMV Upstream (M) Sdn Bhd, while the PSCsfor ultra-deepwater Blocks 2W and X were signed between Petronas, Sabah ShellPetroleum Company Ltd, Shell Sabah Selatan Sdn Bhd, and Petronas Carigali SdnBhd.
The signing ceremony of the PSCs under the theMalaysia Bid Round (MBR) 2021 took place at the Kuala Lumpur Convention Centre.
The MBR is an annual Malaysia licensing round hostedby MPM which offers investors diverse upstream opportunities, includingexploration acreages, discovered resource opportunities and late life producingassets./.
This will reflect the the attractiveness of thecountry’s hydrocarbon resources potential, Petronas senior vice-president ofMalaysia Petroleum Management (MPM) Mohamed Firouz Asnan said in a statementafter signing the PSCs on behalf of the company.
“The reduction in global exploration drilling over thepast two years has pressured the industry to resolve current supply shortages.As global economies have started to recover post-pandemic, the industry needsto ensure exploration activities continue to sustain production,” he was quoted by the Malaysian National News Agency (Bernama) as saying.
“Petronas is committed to reducing carbon emissionsfrom our operations with technologies such as carbon capture and storage,” hesaid, adding that Petronas looks forward to working together with its partnersto provide safe and reliable energy to the market.
Among the offshore exploration blocks include SB412,2W and X off the coast of Sabah, and SK439/SK440 off the coast of Sarawak.
Block SB412 in Sabah was signed between Petronas,PTTEP HK Offshore Limited and SapuraOMV Upstream (M) Sdn Bhd, while the PSCsfor ultra-deepwater Blocks 2W and X were signed between Petronas, Sabah ShellPetroleum Company Ltd, Shell Sabah Selatan Sdn Bhd, and Petronas Carigali SdnBhd.
The signing ceremony of the PSCs under the theMalaysia Bid Round (MBR) 2021 took place at the Kuala Lumpur Convention Centre.
The MBR is an annual Malaysia licensing round hostedby MPM which offers investors diverse upstream opportunities, includingexploration acreages, discovered resource opportunities and late life producingassets./.
VNA
