Petros might be poised to take more stakes in Sarawak blocks
Malaysia awards another offshore block to Shell
The major has been awarded another block by NOC Petronas, but government involvement remains vital
Shell is expanding further its upstream presence in Malaysia, with the award of another block offshore Sarawak. Petronas awarded block SK437 to a joint venture led by Shell subsidiary Sarawak Shell Berhad, which will operate the site and own an 85pc stake. Shell’s two partners in the development—a Petronas subsidiary and Petroleum Sarawak Exploration & Production (PSEP), a division of Sarawak state-owned Petros—each hold 7.5pc. The production-sharing contract (PSC) has been signed, with the deal marking PSEP’s first foray into an offshore exploration PSC. 15 – Malaysian PSCs Shell already has stakes in Shell already has stakes in 15 PSCs in Malaysia, including eight off the coast
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