Project Profile
Location: 300 km offshore Sarawak, Malaysia
Depth: 300 - 2000 m
Start-up Year: -
On April 2012, Shell Malaysia upstream operating company Sarawak Shell Berhad and partner PETRONAS Carigali Sdn Bhd signed a new exploration and production sharing contract (PSC) with PETRONAS. The contract represent new Malaysian acreage for the multinational. The PSC is for block 2B, offshore Sarawak. Under the agreement, Shell will undertake an aggressive drilling campaign to comprehensively explore an area totalling an estimated 9,000 square kilometres in the two blocks over the respective exploration periods. The minimum work commitment includes acquisition of 3D seismic data, 5 electromagnetic surveys to acquire electromagnetic data and the drilling of 5 exploration wells in total. Shell is operator and has a 65% interest in both contracts with Carigali holding 15%. In January 2014, Mubadala Petroleum signed an agreement with Shell to swap equity in two exploration blocks offshore Malaysia. Under this agreement, starting January 1, 2014, Mubadala Petroleum gained a 20% interest in the deepwater Block 2B.
Deepwater Block 2B is located some 300 kilometres offshore in water depths ranging from 300 to 2000 metres. The production sharing contract covers 35 years with an initial four year exploration phase. In executing their obligations under the PSC, Shell will be employing new technologies such as Broadband 3D Seismic Data Acquisition, Advanced PSDM (pre-stack depth migration), advanced seismic interpretation software and tools. The aggressive exploration program is expected to de-risk the challenging deepwater environment in the waters of North Luconia, especially with the employment of these new technologies.
Operators:
Sarawak Shell Berhad: Operator with 65% interest
Mubadala Development Company (MDC): 20% interest
PETRONAS Carigali Sdn Bhd: 15% interest