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Shell signs new PSC in busy offshore Sarawak

Shell Malaysia, the largest gas producer in the Southeast Asian country, said on Tuesday it had signed a new production sharing contract (PSC) with state-controlled Petronas to explore offshore Sarawak, a Malaysian state on the island of Borneo.
By Chris Noon 27 November 2012 Asia Pacific / Exploration & Production 0 14529

Shell Malaysia, the largest gas producer in the Southeast Asian country, said on Tuesday it had signed a new production sharing contract (PSC) with state-controlled Petronas to explore offshore Sarawak, a Malaysian state on the island of Borneo.

The company will explore an area of 272,700 hectares inside Block SK319 in Central Luconia for three years. Sarawak Shell Berhad will be the project operator with a 50% stake, with partner Petronas Carigali holding the other 50%.

Shell had not returned calls seeking comment at the time of...