Petroleum Sarawak Exploration & Production acquires offshore PSCs from Shell

Petroleum Sarawak Exploration & Production Sdn. Bhd. has acquired two offshore production sharing contracts (PSC) in the Baram Delta from Shell PLC subsidiary Sarawak Shell Berhad.

The sale concerns non-operated interests of 40% in the Amended 2011 Baram Delta EOR Production Sharing Contract (BDO PSC) and 50% in the SK 307 Production Sharing Contract (SK307 PSC). The remaining interests in both PSCs are held by operator Petronas Carigali Sdn. Bhd.

Completion of the sale follows regulatory approval from Malaysia Petroleum Management, Petronas as the custodian of national hydrocarbon resources in Malaysia. The transaction has an effective date of Jan. 1, 2023.