TotalEnergies, Petronas Carigali, and Shell Sign PSC for Ultra-deepwater Offshore Block in Malaysia

Thursday, October 13, 2022

Malaysia's Petronas has signed a Production Sharing Contract (PSC) with TotalEnergies, Petronas Carigali, and Shell for Block 2K, an ultra-deepwater block off the coast of Sabah, Malaysia.

According to Petronas, Block SB 2K, with a depth of up to 3,000 meters, covers an area of 1,952 sq km and is located in the prolific north-west ultra-deepwater area within a proven hydrocarbon basin with promising hydrocarbon potential.  

Under the PSC terms, TotalEnergies will be the operator with a 34.9 percent stake. Petronas Carigali will hold a 40 percent stake, and Shell the remaining 25.1 percent.

Petronas' Senior Vice President of Malaysia Petroleum Management (MPM), Mohamed Firouz Asnan, said: “The signing of the PSC for Block 2K completes the licensing of the five ultra-deepwater blocks off the coast of Sabah, along the newly identified Oligo-Miocene carbonate trend proven by Tepat-1 oil discovery in Block N in 2018. Block 2V was signed last year, followed by Blocks 2W and X early this year.”

“A total of four wells are expected to be drilled in these ultra-deepwater blocks in 2022 and 2023, to explore within this emerging hydrocarbon province,” he added.

Categories: Energy Deepwater Drilling Industry News Activity Asia

Related Stories

SBM Offshore’s Jaguar FPSO Enters Drydock in Singapore (Video)

CNOOC Finds Oil and Gas in South China Sea

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

TPAO, SOCAR and BP to Ink Caspian Sea Oil and Gas Production Deal

Fugro Lands Deepwater Gas Field Job in Southeast Asia

Chuditch Gas Field Up for Summer Drilling Ops as Sunda Reshapes Ownership Structure

India Stretches Bids Deadline for 13 Offshore Deep-Sea Mineral Blocks

Borr Drilling Bags Three New Assignments for its Jack-Up Drilling Rigs

CNOOC Makes Major Oil and Gas Discovery in South China Sea

Jadestone Submits Field Development Plan for Assets Off Vietnam

Current News

China Rolls Out 17MW Floating Wind Turbine Prototype

SBM Offshore’s Jaguar FPSO Enters Drydock in Singapore (Video)

EnQuest Picks Up Offshore Oil and Gas Block in Brunei

CNOOC Finds Oil and Gas in South China Sea

Seatrium Makes First Turnkey FPSO Delivery to Petrobras

KBR-SOCAR Joint Venture Secures Work for BP in Azerbaijan

Baker Hughes, Petronas Team Up for Asia-Pacific Energy Resilience

EnQuest Acquires Harbour Energy’s Vietnamese Assets

Woodside Finds South Korean Partners to Advance LNG Value Chain

Valeura Makes Progress with Multi-Well Drilling Campaign in Gulf of Thailand

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