Murphy acquires additional acreage off Malaysia

Murphy Sabah Oil Co., Ltd., a wholly owned subsidiary of El Dorado, Ark.-based Murphy Oil Corp., has signed two production sharing contracts with Malaysia's Petronas Carigali Sdn. Bhd.

Jan. 29, 2003

By OGJ editors

HOUSTON, Jan. 29 -- Murphy Sabah Oil Co., Ltd., a wholly owned subsidiary of El Dorado, Ark.-based Murphy Oil Corp., has signed two production sharing contracts with Malaysia's Petronas Carigali Sdn. Bhd. the exploration and production arm of state-owned Petronas, covering Blocks L and M off Malaysia.

Operator of both blocks, Murphy holds a 60% working in interest in Block L and 70% in Block M. Petronas holds the remaining interest in the blocks, which lie in 2,700-9,300 ft of water and cover about 1.5 million acres each.

Murphy's Pres. and CEO Claiborne P. Deming said the blocks "lie on trend with our Kikeh discovery," an oil field discovered last year on the partners' adjoining deepwater Block K.