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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Petronas Signs New PSC With Talisman, Petronas Carigali

June 27, 2012

Dateline 2012-05-28:

Petroliam Nasional Bhd (Petronas) has signed a new production sharing contract (PSC) with Talisman Malaysia Ltd and Petronas Carigali Sdn Bhd.

The PSC, signed on May 23, was for the continuing production, further development and improved recovery of crude oil from the Kinabalu Fields, a number of fields with mature reservoirs located offshore Sabah.

Vice president of petroleum management Ramlan Abdul Malek said the PSC is the first awarded under the new, innovative progressive volume-based (PVB) fiscal terms designed by Petronas to offer value-added incentives for the development and production of mature oil fields in Malaysia.

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Petronas accelerating efforts to enhance production of oil and gas for M’sia

December 1, 2011

Dateline 2011-11-16:

THE excitement in the oil and gas (O&G) sector just gets better, with oil giants Petroliam Nasional Bhd (Petronas) and Royal Dutch Shell plc joining forces to further develop oilfields in Malaysia using the enhanced oil recovery (EOR) technology.

The duo had last week signed a heads of agreement for two 30-year production-sharing contracts (PSCs), which would entail a total investment of US$12bil (RM37.8bil), for projects using the EOR technology a technique to boost the extraction of crude oil and natural gas from existing fields off Sabah and Sarawak.

Involving four oilfields in the North Sabah area and nine in the Baram Delta off Sarawak, the EOR projects on a combined basis could be the biggest in the world in an offshore environment.

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ExxonMobil – extension of PSCs

April 3, 2008

I earlier reported that TCOT / OSC were being handed over to PCSB. Now I can note that ExxonMobil Exploration and Production Malaysia Inc’s (EMEPMI) Production Sharing Contracts (PSC) were extended.

At 3:00 p.m. on Wednesday, March 26, EMEPMI signed with PETRONAS and PETRONAS Carigali the Main Principles Agreement that will lead to the execution of a new Production Sharing Contract (PSC).

In summary, the new PSC will enable EMEPMI to continue production of the existing reserves in the seven fields currently under the 1995 PSC until 2033.  It will also be pursuing additional oil development and will have the opportunity to pursue Enhanced Oil Recovery (EOR) activities. 

As part of the arrangement, EMEPMI will retain operatorship of all the existing offshore fields, and will extend this to 2033.  Operatorship of the onshore assets, and in particular the Terengganu Crude Oil Terminal (TCOT), will be transferred earlier than initially planned, and will be accelerated from 2012 to no later than June 2009 along with the gas and condensate facilities (i.e. OSC).  This transfer is strategic to PETRONAS due to national interest considerations.

Other aspects of EMEPM’s current onshore operations at Kemaman Supply Base will
remain as is.

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Article ‘Kenapa BN Mahu Sangat Rampas Kelantan’ – Take 2

March 21, 2008

Continuing my expansion of the above article, I thought I would list down the operators and comments of the acreage listed.

  • Blok A18 – as the original author says, the acreage is operated by the Carigali Hess Operating Company (CHOCas its known to friends). It’s located in the Malaysia Thailand Joint Development Area (JDA)
  • Blok B17 – the PSC for this area is PETRONAS Carigali (JDA) Sdn Bhd, also in the JDA.
  • Block C19 – the PSC for this area is Carigali-PTTEP International Operating Company (CPOC), also in the JDA.
  • PM3 – operated by Talisman (Malaysia) Ltd.
  • Sub-Blok Ular – operated by PETRONAS Carigali Sdn Bhd (PCSB).
  • PM301 & PM302 – CS Mutiara, though I’m not sure if they have had to relinquish the acerage yet. It’s interesting to note that this aceragetouches the Kelantanese shoreline.
  • PM303 – Shell, PSC awarded in 1999, though yet to produce.
  • PM311 & 312 – joint venture between Murphy Peninsular Malaysia Oil Co Ltdand PCSB, yet to produce.

So, of the fields listed by the author, 3 are in the JDA, one is in Kelantanese waters, and the rest are in Terengganu waters.

It’s interesting to note that we do not have a JDA for disputed resources between Malaysia, Indonesia and Brunei. Would that have reduced the amount of hydrocarbons that could be claimed by Sabah and Sarawak?

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