Petronas signs PSC's with Shell Companies

Jul 23, 1997 02:00 AM

July 1, 1997 Malaysia's Petronas, has signed three production-sharing contracts governing domestic oil blocks.
The deals were struck with Petronas subsidiary, Petronas Carigali Sdn Bhd (PSCB), and three Shell Companies -- Sarawak Shell Bhd (SSB), the Sabah Shell Petroleum Company (SSPC), and Shell Sabah Selatan (SSS). The agreements cover block Sk 307 offshore Sarawak in east Malaysia and block Sb 301 and deep-water block J in the east Malaysian state of Sabah.
The PSC for block SK 307, which was awarded to PCSB (50 %) and SSB (50 %), marked the return of Shell to exploration activities in the Baram Delta of Sarawak. Block Sb 301 and deep-water block J were awarded to SSPC (40 %), SSS (40 %), and PCSB (20 %).
Block Sk 307 is located in the prolific petroleum-bearing Baram Delta province, covering about 4,100 sq km.

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