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PETRONAS AWARDS TWO DEEPWATER EXPLORATION BLOCKS TO MURPHY AND PETRONAS CARIGALI
PETRONAS today awarded two Production Sharing Contracts (PSCs) for deepwater Blocks L and M offshore Malaysia to Murphy Oil Corporation and PETRONAS Carigali Sdn Bhd. The PSCs mark the seventh and eighth Malaysian blocks awarded to Murphy, a US-based independent oil and gas exploration company.Under the terms of the PSCs, Murphy Sabah Oil Co., Ltd, a wholly owned subsidiary of Murphy, will have 60 per cent and 70 per cent working interests respectively in the two blocks. PETRONAS Carigali, the exploration and production arm of PETRONAS, will own the remaining 40 per cent and 30 per cent interests. Murphy Sabah will operate the blocks, which are also the 11th and 12th blocks to be awarded under the Deepwater PSC terms.
The adjoining deepwater Blocks L and M are located in water depths ranging from 1,000 to 2,500 metres and are adjacent to the deepwater Block K awarded to Murphy and PETRONAS Carigali in 1999, where a significant oil discovery at the Kikeh field was recently made. (more…)
PETRONAS AWARDS TWO DEEPWATER EXPLORATION BLOCKS TO MURPHY AND PETRONAS CARIGALI
PETRONAS today awarded two Production Sharing Contracts (PSCs) for deepwater Blocks L and M offshore Malaysia to Murphy Oil Corporation and PETRONAS Carigali Sdn Bhd. The PSCs mark the seventh and eighth Malaysian blocks awarded to Murphy, a US-based independent oil and gas exploration company.Under the terms of the PSCs, Murphy Sabah Oil Co., Ltd, a wholly owned subsidiary of Murphy, will have 60 per cent and 70 per cent working interests respectively in the two blocks. PETRONAS Carigali, the exploration and production arm of PETRONAS, will own the remaining 40 per cent and 30 per cent interests. Murphy Sabah will operate the blocks, which are also the 11th and 12th blocks to be awarded under the Deepwater PSC terms. (more…)
PETRONAS AWARDS TWO DEEPWATER EXPLORATION BLOCKS TO MURPHY AND PETRONAS CARIGALI
PETRONAS today awarded two Production Sharing Contracts (PSCs) for deepwater Blocks L and M offshore Malaysia to Murphy Oil Corporation and PETRONAS Carigali Sdn Bhd. The PSCs mark the seventh and eighth Malaysian blocks awarded to Murphy, a US-based independent oil and gas exploration company.
Under the terms of the PSCs, Murphy Sabah Oil Co., Ltd, a wholly owned subsidiary of Murphy, will have 60 per cent and 70 per cent working interests respectively in the two blocks. PETRONAS Carigali, the exploration and production arm of PETRONAS, will own the remaining 40 per cent and 30 per cent interests. Murphy Sabah will operate the blocks, which are also the 11th and 12th blocks to be awarded under the Deepwater PSC terms. (more…)
PETRONAS INTRODUCES SUPERIOR PERFORMANCE PETROL
PETRONAS Dagangan Bhd (PDB), the retail arm of PETRONAS, today unveiled an improved version of its PRIMAX motor gasoline which has been enhanced with new formulation to give motorists a superior performance petrol. The new fuel, blended with the latest generation additive package to optimise engine performance and protection, was launched by PETRONAS Chairman Tan Sri Dato’ Seri Azizan Zainul Abidin in Kuala Lumpur.
A key component of the new formulation is its unique friction modifier (FM), the first of its kind in Malaysia. FM reduces the friction between piston rings and cylinder wall inside the engine’s combustion chamber, maximising the use of energy generated by the engine which would otherwise be lost due to the friction. This in turn will result in smoother and faster acceleration, easy start-up even when the engine is cold, and improves fuel economy. (more…)
PETRONAS AWARDED TWO EXPLORATION BLOCKS OFFSHORE VIETNAM
PETRONAS, Malaysia’s national oil corporation, and its Vietnamese counterpart PETROVIETNAM, today signed a Petroleum Contract to jointly explore for and develop hydrocarbon resources in Blocks 01/97 and 02/97 offshore Vietnam. Under the contract, PETRONAS and PETROVIETNAM will form a joint venture company to operate the blocks.PETROVIETNAM Exploration and Production Company (PVEP) and PETRONAS Carigali Overseas Sdn Bhd (PCOSB) will participate in the joint venture company, called LAM SON Joint Operating Company, on a 50:50 basis. PVEP is a wholly owned subsidiary of PETROVIETNAM while PCOSB is the overseas exploration and production arm of PETRONAS. (more…)
PETRONAS AWARDED TWO EXPLORATION BLOCKS OFFSHORE VIETNAM
PETRONAS, Malaysia’s national oil corporation, and its Vietnamese counterpart PETROVIETNAM, today signed a Petroleum Contract to jointly explore for and develop hydrocarbon resources in Blocks 01/97 and 02/97 offshore Vietnam. Under the contract, PETRONAS and PETROVIETNAM will form a joint venture company to operate the blocks.
PETROVIETNAM Exploration and Production Company (PVEP) and PETRONAS Carigali Overseas Sdn Bhd (PCOSB) will participate in the joint venture company, called LAM SON Joint Operating Company, on a 50:50 basis. PVEP is a wholly owned subsidiary of PETROVIETNAM while PCOSB is the overseas exploration and production arm of PETRONAS. (more…)