Total signs PSC with Petronas for two Malaysian blocks
Uchenna Izundu
International Editor
LONDON, May 27 -- Total E&P Malaysia will shoot seismic and carry out high-pressure, high-temperature exploration drilling on two blocks it acquired in Malaysia under a production-sharing contract signed with Petronas.
Total will operate both blocks with a 70% stake and will work alongside Petronas.
Blocks PM303 and PM324 are 100 km off Peninsular Malaysia in 50-80 m of water.
Total has been in Malaysia since 2001 when it farmed into Block SKF offshore Sarawak with a 42.5% interest. Its partners are Hess (operator, 42.5%) and Petronas (15%). Seismic was shot on this block in 2007.
Contact Uchenna Izundu at [email protected].