Block SK 316 divestment delayed

Dateline 2018-03-21, Upstream Online:

Malaysia’s national oil company Petronas has delayed the potential divestment of a significant stake in Block SK 316 offshore Sarawak, East Malaysia that is home to the giant Kasawari gas field.

There has been a delay in the process, PTTEP President Phongsthorn Thavisin said on the sidelines of OTC Asia. The Thai national upstream player is still interested in coming on board this gas-rich acreage and would “normally be interested in 10% to 20% of such a prize, added Phongsthorn.

Petronas is set to this year decide whether to line up a partner for Block SK 316 or whether to solely pursue the exploitation of Kasawari, which has an estimated re­coverable resource of 3 trillion cubic feet of gas.

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