Petronas awards first production sharing contract for this year to 3 companies


Same topic as yesterday, a different slant on reporting, and an optimistic note.

Dateline 2016-07-22, Nikkei Asia Review:

Malaysia’s national oil company Petroliam Nasional, or Petronas, has awarded its first production sharing contract for 2016 to three oil companies to explore a hydrocarbon block off the Sarawak state.

Thailand’s PTT Exploration & Production will operate the SK410B oil field with joint venture partner Kuwait Foreign Petroleum Exploration Company, Petronas said in a statement. PTT and the state-run KUFPEC will each hold a 42.5% stake in the block while Petronas will own the remainder 15% through a wholly owned unit.

“[The] signing not only marks Petronas’ first PSC award in 2016, but also welcomes PTT for their first operatorship in Malaysia,” said Petronas’ executive vice president for upstream Mohd Anuar Taib. “We are also pleased to collaborate with our long term partners, KUFPEC once again.”

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