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PETRONAS DISCOVERS OIL, GAS OFFSHORE TURKMENISTAN
PETRONAS Carigali (Turkmenistan) Sdn Bhd, a subsidiary of PETRONAS engaged in the exploration and production activities in Turkmenistan, has discovered oil and gas reserves in the Turkmen sector of the Caspian Sea.
The company recently completed drilling its fourth well, the East Livanov 2A, in offshore Block 1. Three tests conducted at the well resulted in the flow rate of 14,176 barrels of oil and 19.05 million standard cubic feet of gas respectively per day. (more…)
PETRONAS DISCOVERS OIL, GAS OFFSHORE TURKMENISTAN
PETRONAS Carigali (Turkmenistan) Sdn Bhd, a subsidiary of PETRONAS engaged in the exploration and production activities in Turkmenistan, has discovered oil and gas reserves in the Turkmen sector of the Caspian Sea.
The company recently completed drilling its fourth well, the East Livanov 2A, in offshore Block 1. Three tests conducted at the well resulted in the flow rate of 14,176 barrels of oil and 19.05 million standard cubic feet of gas respectively per day. (more…)
PETRONAS AWARDED FOUR EXPLORATION BLOCKS IN MYANMAR
PETRONAS, Malaysia’s national oil corporation, has been awarded four Production Sharing Contracts (PSCs) for Blocks M-15, M-16, M-17 and M-18 offshore Myanmar by the government of the Union of Myanmar.
The contracts were signed today in Yangon, Myanmar, by PETRONAS President and Chief Executive Tan Sri Dato’ Mohd Hassan Marican and Myanmar’s Deputy Minister of Energy U Tin Tun. The ceremony was witnessed by Malaysia’s Prime Minister Dato Seri Dr Mahathir Mohamad and Myanmar’s Secretary-1 Lt-Gen Khin Nyunt. (more…)
PICL EXCHANGES ITS 25% SHAREHOLDING IN PREMIER OIL FOR ASSETS
PETRONAS International Corporation Limited (PICL), a wholly-owned subsidiary of PETRONAS, has entered into an agreement with Premier Oil Plc, an oil and gas company listed on the London Stock Exchange, to swap its 25% interest in Premier for Premier’s interests in producing fields in Myanmar and Indonesia.
The proposed transaction will involve a restructuring of Premier’s equity under a Scheme of Arrangement. This comprises the transfer by Premier to PICL of its 26.67% stake and operatorship in the Yetagun field in Myanmar and 15% of its stake in the Natuna Sea Block A in Indonesia; the cancellation of PICL’s 25% shareholding in Premier at a price of 25p per share; and the payment by PICL to Premier of US$359 million in cash and assumed debt. (more…)
PICL EXCHANGES ITS 25% SHAREHOLDING IN PREMIER OIL FOR ASSETS
PETRONAS International Corporation Limited (PICL), a wholly-owned subsidiary of PETRONAS, has entered into an agreement with Premier Oil Plc, an oil and gas company listed on the London Stock Exchange, to swap its 25% interest in Premier for Premier’s interests in producing fields in Myanmar and Indonesia.
The proposed transaction will involve a restructuring of Premier’s equity under a Scheme of Arrangement. This comprises the transfer by Premier to PICL of its 26.67% stake and operatorship in the Yetagun field in Myanmar and 15% of its stake in the Natuna Sea Block A in Indonesia; the cancellation of PICL’s 25% shareholding in Premier at a price of 25p per share; and the payment by PICL to Premier of US$359 million in cash and assumed debt. (more…)