Petronas has awarded a Production Sharing Contract (PSC) to PTTEP HK Offshore Limited (PTTEP), KUFPEC Malaysia (SK-410B) Limited (KUFPEC), and Petronas Carigali Sdn Bhd for the exploration Block SK410B in a signing ceremony held on 21 July 2016.
The PSC was signed at Petronas Twin Towers, in the presence of the President and CEO of PETRONAS, Datuk Wan Zulkiflee Wan Ariffin. Petronas was represented by its Executive Vice President Upstream, Datuk Mohd Anuar Taib, PTTEP by its President and CEO of PTTEP Public Company Limited, Somporn Vongvuthipornchai, KUFPEC by its Vice President of Operations, Hosnia Hashim and PETRONAS Carigali by its CEO, Mohamad Johari Dasri.
“Today’s signing not only marks Petronas first PSC award in 2016, but also welcomes PTTEP for their first operatorship in Malaysia. We are also pleased to collaborate with our long term partners, KUFPEC once again,” said Datuk Mohd Anuar Taib in his speech during the ceremony.
Under the terms of the PSC, PTTEP will operate the block with participating interest of 42.5%, KUFPEC with 42.5% and Petronas Carigali with 15% interest.
Adapted from a press release by Louise Mulhall
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