Dateline 2025-06-19, Offshore Engineer:
Idemitsu Kosan Co has acquired interests in two oil and gas blocks located off the coast of Sarawak in Malaysia from South Korean SK earthon, and signed production sharing contracts (PSC) for the developments.
The acquired interests are for the Block SK427, awarded under Malaysia Bid Round (MBR) 2021, and the Ketapu Cluster, awarded under MBR Plus Round I.
Idemitsu acquired 40% stake, and as a result, the company secured the right to explore, develop, and produce oil and natural gas in the blocks proportionate to its participating interests.
The PSC for the blocks was signed with Petroliam Nasional Berhad (PETRONAS), a national oil company in Malaysia, Petroleum Sarawak Exploration and Production, a subsidiary of Petroleum Sarawak Berhad (PETROS), a state-owned oil and gas company in Sarawak PSEP, and SK earthon.
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Wata - Malaysian Oil and Gas Engineer 