Project Profile
Value: US$79.75 million
Location: Central part of the Sarawak Basin, offshore Malaysia
Area: 5,786 square kilometres
Water Depth: 100 to 200 metres
Start-up Year: -
Petronas awarded a Production Sharing Contract (PSC) for Block SK320 offshore Sarawak to MDC Oil and Gas (SK320) Ltd, a subsidiary of Abu Dhabi owned Mubadala Development Company, and Petronas Carigali Sdn Bhd. The block spans 5,786 square kilometres and is located in the central part of the Sarawak Basin in water depths ranging from 100 to 200 metres. Previous exploration efforts discovered a number of gas fields in the block. Three of the gas fields namely M5, Biji Sawi and Daun Kari are included in the SK320 PSC. Under the terms of the PSC, MDC Oil with participating interest of 75%, will operate block SK320. Petronas Carigali, the exploration and production arm of Petronas, will own the remaining 25% interest. The PSC commitments for Block SK320 include the acquisition and processing of 2,000 line km of 2D seismic data, 1,000 sq km of new 3D seismic data and drilling of four wildcat wells to a minimum aggregate depth of 11,582 metres. The minimum financial commitment is estimated at US$79.75 million.
A 958 foot gas column was encountered while drilling the Sintok-1 well. Success at Sintok-1 marks the third discovery in the block since it was awarded in 2010.
Operators:
MDC Libya Development Company: Operator with 55% interest
Petronas Carigali: 25% interest
Shell: 20% interest
Contractors:
Consortium for the transportation and installation for offshore facilities:
TL Offshore SDN Berhad
PBJV Group Sdn Bhd
GOM Resources Sdn Bhd