Dateline 2012-01-17:
Japanese oil and gas explorer Inpex Corp has won stakes in two oil and gas exploration licences offshore Sabah from Petronas, Malaysia’s national oil company.
Petronas selected a four-year work programme Inpex had proposed to explore in deepwater blocks R and S, 180 km west and 120km northwest off the coast of Kota Kinabalu, an Inpex spokesman said.
Separately, Petronas said the minimum financial commitment for the two blocks are $123 million and $72 million respectively.
In Block S Inpex has a 75 percent interest and as the licence operator plans to drill two exploration wells in around 2014. The costs will be shared with Petronas, which has a 25 percent interest.
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Wata - Malaysian Oil and Gas Engineer 