Project Profile
Value: US$117 million
Location: Offshore Sabah, Malaysia
Water Depth: Up to 150 metres
Area: 7,271 sq km
Start-up Year: -
PETRONAS was awarded a Production Sharing Contract (PSC) for Block SB310 offshore Sabah to a partnership between Talisman Malaysia Ltd and PETRONAS Carigali Sdn Bhd. The block, measuring 7,271 sq km, is located in water depths of up to 150 metres. Previous exploration efforts were confined to the shallower sections in the blocks while the deeper sections remain mostly under-explored. Under the terms of the block\' PSC, Talisman Malaysia, with participating interest of 70% in the block, will operate Block SB310. PETRONAS Carigali, the exploration and production arm of PETRONAS, will own the remaining 30% interest in the block. For Block SB310, the partners will acquire 1,300 square kilometres of new 3D seismic data and drill five wells to a minimum aggregate depth of 14,500 metres. The minimum financial commitment for Block SB310 is estimated at US$117 million.
Operators:
Talisman Malaysia: Operator with 70% interest
PETRONAS Carigali Sdn Bhd: 30% interest