Dateline 2020-05-22, OE Digital:
Malaysia’s Uzma Energy Ventures has said that the Tanjong Baram small field risk service contract between Petronas and Uzma & EnQuest joint venture has been terminated.
The contract’s objective was to develop and produce petroleum from the Tanjong Baram field, offshore Sarawak, Malaysia.
It was signed in March 2014, and was been terminated in March 2020, but Uzma informed of the termination on Friday, May 22, as it had to wait for Petronas’ approval.
Uzma said that it, together with Enquest, exercised its right for the mutual termination of the Tanjong Baram small field risk service contract
with PETRONAS, following the occurrence of “economic cut-off” in accordance with the terms of the contract.