Petronas awards first PSC of 2016, welcomes PTTEP

PETALING JAYA: Petroliam Nasional Bhd (Petronas) awarded a production sharing contract (PSC) to PTTEP HK Offshore Ltd, KUFPEC Malaysia (SK-410B) Ltd, and Petronas Carigali Sdn Bhd for exploration Block SK410B at a signing ceremony yesterday.
"This signing not only marks Petronas' first PSC award in 2016, but also welcomes PTTEP for their first operatorship in Malaysia. We are also pleased to collaborate with our long-term partners, KUFPEC once again," Petronas executive vice-president upstream Datuk Mohd Anuar Taib said in a statement.
Under the PSC, PTTEP will operate the block with participating interest of 42.5%, KUFPEC with 42.5% and Petronas Carigali with 15%. The block is located offshore Sarawak.