PETROLIAM Nasional Bhd (Petronas) has awarded two production sharing contracts offshore Malaysia to Murphy Oil Corp and Petronas Carigali Sdn Bhd.
The production sharing contracts for deepwater blocks L and M marked the 7th and 8th Malaysian blocks awarded to Murphy, a Petronas statement said.
It said Murphy Oil unit Murphy Sabah Oil Co Ltd would own 60% and 70% of the two respective blocks, while the remaining 40% and 30% would be held by Petronas Carigali, the exploration and production arm of Petronas.
Under the terms of the contracts, the contractors would buy and process 500 sq km of 3D seismic data in each block and drill two exploration wells in each block to a minimum depth of 7,000m, Petronas said.
It added that the minimum financial commitment for each block was US$21mil. AFX
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