Hey, it’s a shallow water block.
Dateline 2021-02-22, Energy Voice:
Malaysia has awarded shallow-water exploration Block SB405 to U.S. major ConocoPhillips off the coast of Sabah.
The award is expected to help bolster interest in exploration activities offshore Sabah with more block investment opportunities on offer, Malaysian national oil company (NOC) Petronas said Friday.
ConocoPhillips will operate Block SB405 with an 85% interest. Petronas Carigali, the upstream division of the NOC, will hold the remaining 15% stake. ConocoPhillips already holds interests in five production-sharing contracts (PSCs) in Malaysia; Block J, G and Kebabangan offshore Sabah, as well as SK304 and WL-00 offshore Sarawak.