JX Nippon Oil & Gas Exploration’s Malaysian subsidiary has signed a production sharing contract (PSC) with Petronas for deepwater Block 3F in the Sarawak region.
Block 3F, which is JX’s seventh project in Malaysia, has a surface area of around 4,200km², as well as in-water depth ranging from 150m to 1,300m.
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JX Nippon’s Malaysian division owns a 40% participating interest in the deepwater Block 3F. Partners Petronas and GDF Suez operate with 40% and 20% stakes respectively.
The oil and gas exploration firm JX is also the operator for Block SK10, offshore Sarawak, where it produces gas and is also studying further development of the block.
The company also operates and handles exploration activities in Block SK333 onshore Sarawak, Deepwater Block R offshore Sabah and Deepwater Block 2F offshore Sarawak.
Additionally, JX Nippon is participating as a non-operator in gas production activities in Block SK8 and in exploration activities in Block PM308A offshore Peninsular Malaysia.
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By GlobalDataAccording to the company, Malaysia is one of the important core countries for its business and it is expected to make further investments to increase its presence in the region.
Image: Deepwater Block 3F, Offshore Sarawak, Malaysia. Photo: courtesy of freedigitalphotos.net.
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