PETRONAS’ Signing of Four New Exploration PSCs

07 April 2022

PETRONAS has signed Production Sharing Contracts (PSCs) for five offshore exploration blocks, namely SB412, 2W and X located off the coast of Sabah, and SK439/SK440 located off the coast of Sarawak. 

The PSC signing ceremony took place at the Kuala Lumpur Convention Centre which had been awarded in the Malaysia Bid Round (MBR) 2021.

Block SB412 in Sabah was signed between PETRONAS, PTTEP HK Offshore Limited and SapuraOMV Upstream (M) Sdn Bhd, while the PSCs for ultra-deepwater Blocks 2W and X were signed between PETRONAS, Sabah Shell Petroleum Company Ltd., Shell Sabah Selatan Sdn Bhd and PETRONAS Carigali Sdn Bhd. 

The PSC for Sarawak’s Block SK439/SK440 was signed between PETRONAS, Sarawak Shell Berhad and Petroleum Sarawak Exploration & Production Sdn Bhd. 

PETRONAS Senior Vice President of Malaysia Petroleum Management (MPM), Mohamed Firouz Asnan signed the PSCs on behalf of the company.

Courtesy of PETRONAS.