BHP to explore deepwater blocks off Malaysia

By OGJ editors
HOUSTON, Mar. 26 -- Malaysia's state-owned Petronas awarded BHP Billiton two deepwater blocks, Block N and Block Q, which lie 175 km off Sabah state capital Koto Kinabalu in 1,600-2,800 m of water.

In contracts signed with Petronas, BHP holds a 60% interest in both blocks and will serve as operator. Petronas Carigali holds 40% interest.

The 7-year exploration period includes a schedule for seismic acquisition, seismic data reprocessing, and exploration drilling.

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