Dateline 2011-11-11:
Petroliam Nasional Bhd, Malaysia’s state oil company, signed two production-sharing deals with Royal Dutch Shell’s Malaysian unit today.
An agreement for two 30-year contracts to recover oil off the Southeast Asian nation’s Sarawak and Sabah coasts was sealed today, Shell said in an e-mailed statement.
The companies aim to extend the life and increase the recovery rate at the Baram Delta and North Sabah fields, it said.
This may result in an additional oil production of as much as 100,000 barrels per day of oil equivalent and extend their life beyond 2040.
Wata - Malaysian Oil and Gas Engineer 