Shell Malaysia signs new exploration contract with Petronas

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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