Dateline 2013-07-04, The Sun Daily:
The bidding process for the third licensing round to develop marginal oil and gas fields under the risk service contracts (RSC) is yet to be completed, Petroliam Nasional Bhd (Petronas) said.
The market is expecting Petronas-owned Vestigo Petroleum Sdn Bhd to speed things up and pave the way for more companies to join in the fray.
“No contract has yet been awarded in this licensing round as the bidding process is still ongoing,” the national oil company said in an email to SunBiz.
Interest in RSCs perked up yesterday after a relatively small player Handal Resources said it will partner MOE Australia Ltd to explore opportunities in development of marginal oil and gas fields – with an eye for RSC agreement with Petronas.