Petronas awards two offshore blocks in Peninsular Malaysia

KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) has awarded Block PM407 and Block PM415, approximately 160km offshore Peninsular Malaysia, to PTT Exploration and Production Hong Kong Offshore Ltd (PTTEP HKO), a wholly-owned subsidiary of PTT Exploration and Production Public Company Ltd (PTTEP) and Petronas Carigali Sdn Bhd (Petronas Carigali), a wholly-owned subsidiary of Petronas.

A signing ceremony for the Production Sharing Contracts (PSC) and Joint Operating Agreement (JoA) for the Blocks, awarded as part of the 2018 Malaysia Bidding Round, was held yesterday.

PTTEP HKO is the operator for both blocks, with a participating interest of 55 per cent for Block PM407 and 70 per cent for Block PM415, while Petronas Carigali owns the remaining 45 per cent and 30 per cent in the respective Blocks.

Signing respectively on behalf of Petronas, Petronas Carigali and PTTEP HKO were the vice president of Malaysia Petroleum Management (MPM), Petronas, Muhammad Zamri Jusoh; vice president of Exploration, Upstream, Petronas, Emeliana Rice-Oxley; and executive vice president, Geosciences, Subsurface and Exploration Group, PTTEP, Kanok Intharawijitr.

Witness for the signing were PTTEP senior vice president of business development 1 Division, Chalongrut Ya-anan; Petronas head of legal MPM Ilhami Idris and Petronas Carigali head of legal Azizi Md Ali.

Malaysia Bidding Round is an event organised by Petronas to market Malaysia’s acreages to existing and new companies who are interested in conducting exploration and production in Malaysia.