Petronas awards 2 deepwater exploration blocks off Sab

KUALA LUMPUR (Jan 17): Petroliam Nasional Bhd has awarded two deepwater exploration blocks offshore Sabah under
separate production sharing contracts (PSC).
Petronas said the PSC for deepwater Block R was awarded to the JX Nippon Oil & Gas Exploration (Deepwater Sabah) Ltd
(operator; 37.5%), INPEX Offshore South West Sabah Ltd (37.5%) and Petronas Carigali Sdn Bhd (25%).
For deepwater Block S, the PSC was awarded to INPEX Offshore North West Sabah Ltd (operator; 75%) and Petronas
Carigali (25%).
“The minimum financial commitment for deepwater Blocks R and S are US$123 million and US$72 million respectively,” it said.
Petronas said Blocks R and S, with an area of 672 sq km and 574 sq km respectively, are in water depths ranging from 100
metres to 1,600 metres.
These exploration blocks are near key discoveries such as the Kikeh, Kebabangan, and Gumusut-Kakap fields, to name a
few.
It said the partners for Block R had to drill three wildcat wells and acquire 700 sq km of new 3D seismic data, while for the
Block S the PSC partners will drill two wildcat wells and acquire 600 sq km of new 3D seismic data.