Petronas awards 2 offshore blocks to firms

Petroliam Nasional Bhd (Petronas) has awarded two offshore blocks, Block PM407 and Block PM415, to PTT Exploration and Production Hong Kong Offshore Ltd and Petronas Carigali Sdn Bhd.

PTT Exploration and Production will be the operator for both blocks, with a participating interest of 55% for Block PM407 and 70% for Block PM415.

Petronas Carigali will own the remaining 45% for Block PM407 and 30% of Block PM415.

The production sharing contracts and joint operating agreement for the blocks were part of the 2018 Malaysia Bidding Round held in Kuala Lumpur last Thursday. — TMR