Salamander Signs Malaysian PSC

Source: www.gulfoilandgas.com 12/11/2013, Location: Asia

Salamander has signed a Production Sharing Contract (“PSC”) for Block PM322, located in the Melaka Straits on the Malay side of the Central Sumatra Basin, offshore West Coast Peninsular Malaysia. Block PM322 is the Group’s first licence in Malaysia. Salamander will operate the PSC with an 85% working interest.

The PM322 PSC contains the Port Klang oil discovery which was made by Sun Oil in 1991, in the same drilling campaign that also resulted in the discovery of the Salamander operated Bualuang oil field in the Gulf of Thailand. The PSC is located in shallow water and covers an area of approximately 20,000 sq km’s. This offshore area has seen very limited drilling with only six wells ever drilled in the Malaysian side of the Melaka Strait. However, with two discoveries reported, the extension of the Sumatran basins into Malaysian waters has been demonstrated, indicating the hydrocarbon potential of the acreage. The committed work programme consists of shooting 3D seismic and drilling one exploration well before December 2016.

James Menzies, Chief Executive of Salamander commented:
“We have been targeting an entry into Malaysia for some time and I am delighted that we were able to find an opportunity that is an excellent strategic fit with our model of building out from discovered resources. There are numerous fallow discoveries in Malaysia that would provide further running room in country and we look forward to building a successful business in Malaysia over the coming years.”


Tanzania >>  6/29/2022 - Wentworth, the independent, Tanzania-focused natural gas production company, is pleased to provide an update on its agreement with Scirocco Energy plc...
Tanzania >>  6/29/2022 - Scirocco Energy, the AIM investing company targeting attractive assets within the European sustainable energy and circular economy markets, is please...

United States >>  6/29/2022 - A 51 percent stake in the North Platte deep water development project in the US Gulf of Mexico will be sold by Equinor to Shell. Shell will take over ...
Brazil >>  6/27/2022 - Petrobras, following the announcements released on 02/08/2021, 08/25/2021 and 10/01/2021, informs that it restarted the sale processes of the Abreu e ...

South Africa >>  6/27/2022 - In accordance with a farmout agreement (the "Agreement"), Eco (Atlantic) Oil & Gas Ltd., the oil and gas exploration company with a focus on the offsh...
United States >>  6/27/2022 - Sitio Royalties Corp. (STR) ("Sitio") announced that it has completed the acquisition of over 19,700 net royalty acres ("NRAs") in the Permian Basin f...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.