Dateline 2012-11-27:
Shell Malaysia has signed a new production sharing contract (PSC) with Petronas to explore for oil and gas offshore Sarawak.
In a statement on Tuesday, Shell said under the SK319 PSC, it would undertake an initial three-year exploration programme covering 2,727 sq km within block SK319 in Central Luconia, offshore Sarawak.
Sarawak Shell Bhd is the operator while the partner is Petronas Carigali with a 50:50 participating equity split, it said.
The new PSC forms part of Shell’s low-cost exploration and development focus would enable it to carry out a multi-well exploration campaign to further explore and de-risk the mature carbonate pinnacle play in Central Luconia.
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Wata - Malaysian Oil and Gas Engineer 