Posco International wins offshore gas project in Malaysia


Dateline 2021-11-02, Pulse:

Posco International Corp., a trading arm of South Korean steel giant Posco, has secured offshore natural gas exploration and production rights in Malaysia, accelerating its energy exploration push in natural resource-rich Southeast Asia.

Posco International said Monday that it signed a production sharing contract for Block PM524 natural gas field with Malaysia`s state-owned oil and gas company Petroliam Nasional Berhad (Petronas). Under the contract, Posco International will explore and operate Block PM524, a 4,738 square-meter natural gas field located in the sea about 50 to 80 meters deep off the east coast of Malaysia.

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