Better performance expected in 2H for Malaysia O&G sector

September 21, 2014

Dateline 2014-07-07, Borneo Post:

Oil and gas (O&G) companies in Malaysia will continue to see excitement ahead in the second half of 2014 (2H14).

The research team at Kenanga Investment Bank Bhd (Kenanga Research) expect to see mergers and acquisitions (M&As) for non-stop exploration and production in the near future.

“We were pleasantly surprised by Dialog Group Bhd’s (Dialog) recent announcement that it had entered into a Letter Of Intent (LOI) to farm into 20 per cent of ROC Oil’s participating interest in the Production Sharing Contract (PSC) for the three fields D35, D21 and J4 fields, located offshore Sarawak, Malaysia.

“No purchase price has been revealed as yet but we will not be surprised if the consideration mirrors ROC oil’s farm-in terms (US$25 million plus a carry with a 50 per cent participating interest of US$80 million for the project spread over Phases 1 and 2).”

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Roc Oil Acquires 50% Interest in a PSC offshore Malaysia

May 15, 2014

Dateline 2014-04-01, Rigzone:

Roc Oil Company Limited, announced Tuesday the farm in to a Production Sharing Contract (PSC) which includes three fields D35, D21 and J4 (Fields), located offshore Malaysia in water depths of approximately 164 feet (50 meters). The Fields are currently 100 percent owned and operated by Petronas Carigali and ROC has farmed into a 50 percent participating interest. The Fields are in production with a combined daily oil rate of approximately 10,000 barrels of oil per day (bopd) and gas sales of approximately 17 million standard cubic feet per day (MMscf/d) gross working interest. ROC’s economic interest (50 percent) of the 2P reserves from the Fields is 8.7 million barrels of oil equivalent (MMboe).

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