Petrogas Relinquishes Interest in Malaysia Onshore Block

June 20, 2020

Interesting.

Dateline 2020-06-02, Steel Guru:

RH Petrogas has announced that its subsidiary RHP (Mukah) Pte. Ltd will not be seeking a further extension of the Block SK331 Production Sharing Contract when its current exploration period expires on 5 June 2020. The Group has arrived at this decision after taking into consideration the block’s geological risks and the magnitude of additional exploratory works required to further appraise the prospectivity of the block, as well as the current challenging business environment facing the oil and gas industry. As such, the Group will be proceeding to relinquish the block, which is located onshore Sarawak, East Malaysia.