Dateline 2022-10-13, Offshore Engineer:
Malaysia’s Petronas has signed a Production Sharing Contract (PSC) with TotalEnergies, Petronas Carigali, and Shell for Block 2K, an ultra-deepwater block off the coast of Sabah, Malaysia.
According to Petronas, Block SB 2K, with a depth of up to 3,000 meters, covers an area of 1,952 sq km and is located in the prolific north-west ultra-deepwater area within a proven hydrocarbon basin with promising hydrocarbon potential.
Under the PSC terms, TotalEnergies will be the operator with a 34.9 percent stake. Petronas Carigali will hold a 40 percent stake, and Shell the remaining 25.1 percent.