Coastal Energy signs contract with Petronas


Can anyone introduce me to Coastal Energy?

Dateline 2012-07-07:

Coastal Energy Co has entered into a small field risk service contract (RSC) with Petroliam Nasional Bhd (Petronas) for the development and production of petroleum from the Kapal, Banang and Meranti cluster of small fields offshore Peninsular Malaysia.

Coastal (with 100% equity interest under the small field RSC) would be the operator of the cluster fields. In accordance with the RSC, the company is also finalising an arrangement for a Malaysian company to participate in the contract for 30% to 40% equity interest.

According to Coastal’s website, the company would provide the upfront development capital, undertaking the development drilling and production of the fields. Petronas will remain the owner of the project.

…

This entry was posted on Tuesday, July 31st, 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.

Leave a comment