KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) has awarded Block PM407 and Block PM415, approximately 160 kilometre offshore Peninsular Malaysia, to its wholly-owned subsidiary Petronas Carigali Sdn Bhd and PTT Exploration and Production Hong Kong Offshore Limited (PTTEP HKO).
PTTEP HKO is a wholly-owned subsidiary of PTT Exploration and Production Public Co Ltd (PTTEP).
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 here yesterday.
In a statement today, Petronas said 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 Petronas Malaysia petroleum management (MPM) vice president Muhammad Zamri Jusoh, Petronas exploration and upstream president Emeliana Rice-Oxley and PTTEP geosciences, subsurface and exploration group executive vice president Kanok Intharawijitr.
The signing ceremony was witnessed by Petronas MPM head of legal M Ilhami Idris, Petronas Carigali head of legal Azizi Md Ali and PTTEP business development 1 division vice president Chalongrut Ya-anan.
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.