Gulf Oil and Gas accountACCOUNT

Petronas Awards Sk320 to MDC and Petronas Carigali

Source: www.gulfoilandgas.com 2/12/2010, Location: Asia

PETRONAS awarded a Production Sharing Contract (PSC) for Block SK320 offshore Sarawak to MDC Oil and Gas (SK320) Ltd, a subsidiary of Abu Dhabi owned Mubadala Development Company, and PETRONAS Carigali Sdn Bhd.

The block, measuring 5,786 square kilometres is located in the central part of the Sarawak Basin in water depths ranging from 100 to 200 metres. Previous exploration efforts discovered a number of gas fields in the block. Three of the gas fields namely M5, Biji Sawi and Daun Kari are included in the SK320 PSC.

Under the terms of the PSC, MDC Oil with participating interest of 75 per cent, will operate block SK320. PETRONAS Carigali, the exploration and production arm of PETRONAS, will own the remaining 25 per cent interest.

The PSC commitments for Block SK320 include the acquisition and processing of 2,000 line km of 2D seismic data, 1,000 sq km of new 3D seismic data and drilling of four wildcat wells to a minimum aggregate depth of 11,582 metres. The minimum financial commitment is estimated at US$79.75 million.

The PSC was signed today in Kuala Lumpur. PETRONAS was represented by its Vice President of Exploration & Production Business Encik Ramlan Abdul Malek; MDC Oil and Gas (SK320) Ltd by its Regional Vice President Mr. Barry J. O'Donnell; and PETRONAS Carigali by its Managing Director/CEO Datuk Abdullah Karim.

Subsea Production News in Malaysia >>

China >>  5/28/2020 - BP has entered into an agreement to license its latest generation technology for the production of purified terephthalic acid (PTA) to China’s Dongyin...
China >>  5/20/2020 - The "cloud signing" ceremony of CNOOC and Shell Petrochemicals Company (CSPC) Phase 3 project was held in Guangzhou, Beijing and The Hague, the Nether...

China >>  5/9/2020 - Sinopec Corp, China's leading energy and chemical company, has put China’s largest petrochemical port into operation with the successful docking and u...

Related Categories: Diving Contractors  Dredging  FPSO Vessels and Equipment  General  Marine Services  Mooring Systems  Offshore Platforms  Subsea Production 

Related Articles: Diving Contractors  Dredging  FPSO Vessels and Equipment  General  Marine Services  Mooring Systems  Offshore Platforms  Subsea Production 


Malaysia Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 |

More News

Related Links

AZ BD BN CN GE HK ID IN IR JP KH KR KZ MM MN MY PG PH PK RU SG TH TJ TM TW UA UZ VN
Gulf Oil and Gas
Copyright © 2020 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.