Petronas Signs New PSC With Talisman, Petronas Carigali


Dateline 2012-05-28:

Petroliam Nasional Bhd (Petronas) has signed a new production sharing contract (PSC) with Talisman Malaysia Ltd and Petronas Carigali Sdn Bhd.

The PSC, signed on May 23, was for the continuing production, further development and improved recovery of crude oil from the Kinabalu Fields, a number of fields with mature reservoirs located offshore Sabah.

Vice president of petroleum management Ramlan Abdul Malek said the PSC is the first awarded under the new, innovative progressive volume-based (PVB) fiscal terms designed by Petronas to offer value-added incentives for the development and production of mature oil fields in Malaysia.

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This entry was posted on Wednesday, June 27th, 2012 at 6:00 am and is filed under Malaysia, oil and gas. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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