17-06-08 Petronas awarded a Production Sharing Contract for Block SK310 offshore Sarawak to Newfield Sarawak Malaysia, Mitsubishi and Petronas Carigali.
Block SK310 is located in water depths of between 50 and 100 meters in the Central Luconia Province and covers an area of about 3,460 sq km.

Under the terms of the PSC, Newfield, with 30 % interest, will be the operator of the block, while Mitsubishi and Petronas Carigali will own the remaining interest of 30 % and 40 % respectively.
The partners are committed to acquire 500 sq km of new 3D seismic data and drill three exploration wells. The minimum financial commitment is estimated at $ 43.5 mm.