Country Monitor

Petronas awards two offshore blocks in Peninsular Malaysia

Source: The Sun Daily

Petroliam Nasional Bhd (Petronas) has awarded Block PM407 and Block PM415 to PTT Exploration and Production Hong Kong Offshore Limited (PTTEP HKO) and Petronas Carigali Sdn Bhd.

PTTEP HKO, a wholly owned subsidiary of PTT Exploration and Production Public Company Limited (PTTEP), is the operator for both blocks with a participating interest of 55% for Block PM407 and 70% for Block PM415.

Petronas Carigali, a wholly owned subsidiary of Petronas, owns the remaining 45% and 30% in the respective blocks.

The two blocks, located about 160km offshore Peninsular Malaysia, were awarded as part of the 2018 Malaysia Bidding Round, an event organised by Petronas to market Malaysia?s acreages to existing and new companies who are interested in conducting exploration and production in Malaysia.

Source: The Sun Daily