KUALA LUMPUR: Petronas and Shell Malaysia today signed a Heads of Agreement (HOA) for two 30-year production-sharing contracts (PSCs) for enhanced oil recovery (EOR) projects in offshore Sabah and Sarawak.
The HOA will see staged work activities and new investments from Shell and its joint-venture partner, Petronas Carigali Sdn Bhd, to extend the life and increase the recovery factor of the Baram Delta and North Sabah fields.
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