Petronas, Esso sign PSC to develop 22 gas fields off Malaysia

Malaysia's national oil company Petronas has signed a production-sharing contract (PSC) with Esso Production Malaysia Inc. (EPMI) and Petronas Carigali Sdn. Bhd. for the development of 22 natural gas fields off Peninsular Malaysia. The PSC will provide long-term gas supply to the Peninsular Gas Utilization (PGU) project. The signing formalizes the terms of an agreement announced last year. Under the PSC terms, EPMI will relinquish to Petronas the remaining undeveloped gas fields it

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