ConocoPhillips, Petronas Carigali Awarded Block Off Sabah, Malaysia

OE Staff
Friday, February 19, 2021

ConocoPhillips and Petronas Carigali have been awarded Block SB405, offshore Sabah, Malaysia, Petronas has informed.

The offshore block is located in the North East Sabah basin, off the coast of Sandakan, with an area size of 5,857 square kilometers and in a water depth of up to 100 meters.

"The award of this exploration block is expected to bolster exploration activities off the coast of Sabah following the opening of more block investment opportunities in the country," Petronas said. The Production Sharing Contract (PSC) was signed Friday.

ConocoPhillips is the operator for Block SB405 PSC, with an 85 percent stake, while Petronas Carigali holds the remaining 15 percent. 

The block SB405 is the new addition to ConocoPhillips' existing interests in five PSCs in Malaysia, which are Block J, G and Kebabangan located off the coast of Sabah and SK304 and WL4-00 located off the coast of Sarawak.  

Senior Vice President of Malaysia Petroleum Management Mohamed Firouz Asnan said: “The entry of [ConocoPhillips] with its world-class proprietary seismic technology into Block SB405 is expected to enhance the hydrocarbon resource potential off the coast of Sabah. This is an area that has a proven working petroleum system with previous discoveries such as Kuda Terbang and Nymphe fields.  

"At the same time, the new investment of [ConocoPhillips] in Block SB405 represents enhanced confidence of foreign investors in the upstream sector in Malaysia," he said.

In a separate statement on Friday, Petronas said it would offer 13 offshore exploration blocks in Malaysia at the upcoming Malaysia bid round 2021 launch on February 26, 2021.

Also included, Petronas said, are six discovered fields to incentivize investors to undertake more extensive exploration activities within those blocks.

Categories: Asia Shallow Water Regulations

Related Stories

Petrovietnam, Partners Sign PSC for Block Off Vietnam

Woodside and Jera Agree LNG Cargoes Supply for Japan’s Winter Period

Petronas Expands Suriname Portfolio with Deepwater Block Acquisition

Petronas-Eni Upstream Joint Venture to Take Up to Two Years to Set Up

Chuditch Gas Field Drilling Ops Get Delayed to Next Year

ABL Lands Work on BP’s Indonesian Gas and CCUS Project

MODEC, Carbon Clean to Advance FPSO-Mounted Carbon Capture Tech

Aker Solutions, PTAS JV Hooks Brownfield Services Extension off Brunei

CDWE Wraps Up Pin Pile Installation Job for Taiwanese Offshore Wind Farm

BP Expands Oil and Gas Scope in Azerbaijan with New Projects and Exploration Rights

Current News

One Shelf Drilling Rig Up for New Job in India, Other for Disposal

Four Jack-Up Drilling Rig Deals Set to Bring In $129M for Borr Drilling

PTTEP Hires Velesto’s Jack-Up Rig for Drilling Campaign off Malaysia

Yinson Production Secures $1.17B Refinancing for FPSO Maria Quitéria

Centrica and Thailand’s PTT Ink Long-Term LNG Supply Deal

Petrovietnam, Partners Sign PSC for Block Off Vietnam

Japan Protests China’s New Oil and Gas Construction Activities in East China Sea

CNOOC Signs Hydrocarbons Exploration and Production Deal with Kazakhstan

Thailand's PTT to Buy LNG from Glenfarne's Alaska LNG Project

Woodside and Jera Agree LNG Cargoes Supply for Japan’s Winter Period

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com