Written by Financial Daily
Tuesday, 27 October 2009 11:18
KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) has awarded two production-sharing contracts (PSCs) for Block SB309 and Block SB310 offshore Sabah to a partnership between Talisman Malaysia Ltd and Petronas Carigali Sdn Bhd.
In a statement yesterday, Petronas said the two blocks, measuring 5,815 sq km and 7,271 sq km, respectively, were located in water depths of up to 150 metres. It said previous exploration efforts were confined to the shallower sections in the blocks while the deeper sections remained mostly under-explored.
Under the terms of the blocks’ PSCs, Talisman Malaysia, with participating interest of 70% in each block, will operate both Block SB309 and Block SB310. Petronas Carigali, the exploration and production arm of Petronas, will own the remaining 30% each.
Petronas said for Block SB309, the partners were committed to acquiring 1,300 square kilometres of new 3D seismic data and to drill three wells to a minimum aggregate depth of 8,500 metres. The minimum financial commitment for this block is estimated at US$75 million (RM253.5 million).
This article appeared in The Edge Financial Daily, October 27, 2009.
About Me
- Nuang
- Ibrahim bin Ramli@Nuang started his career with CIMB Wealth Advisors Berhad as Agency Manager in April, 2008.Previously he was an Internal Auditors and Accounts Executive with Perodua Sales Sdn Bhd since 17 August, 1994. His background:- 1.Certified of Achievement for Master Sales Leadership from Dr Lawrence Walter Ng of President of The Art Of Learning and International Of Learning Without Learning 2.Certified for eXtra Ordinary Performance of Lawrence Walter Award Certificate for One Million Ringgit Club 2007 3. Certified Life & General insurances 4. Conferred with Diploma in Business Studiess & Bachelor of Business Admin(Hons)Finance from UiTM, Terengganu Branch & Shah Alam respectively;
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