Project Profile
Value: US$31 million
Location: 100 kilometres offshore Sarawak, Eastern part of the Sarawak basin, offshore Malaysia
Water Depth: 200 and 1000 metres
Area: 700 square kilometres
Reserves: unknown
On November 19, 2010, Total signed an agreement with the national oil company Petronas to acquire a 85% interest in the Block SK317B, offshore Malaysia. Under the terms of the agreement, Total will operate the Block alongside its partner Petronas Carigali. The Block SK317B is located around 100 kilometres offshore Sarawak, in water depths ranging from 200 to 1,000 metres. It covers an area of more than 700 square kilometres. Total is committed to drilling one exploration well, shoot 400 square kilometres of new 3D seismic data and reprocess 500 line kilometres of existing 2D seismic data. Under the terms of the production sharing contract, Total will operate the deepwater Block with an 85% stake, while Petronas Carigali will hold the remaining 15% interest.
Operators:
Total E&P Australia: Operator with 85% interest
Petronas Carigali: 15% interest
Contractors:
ENSCO: Drilling services using the Semi-Submersible Drilling Rig ‘Ensco 8504’