INPEX has jointly been awarded Block SK510 as part of Malaysia Bid Round 2023 launched by Malaysia Petroleum Management ('MPM'), Petroliam Nasional Berhad (PETRONAS) as the custodian of the country’s hydrocarbon resources.
In association with this, INPEX through its subsidiary, INPEX Malaysia E&P SK510 Sdn. Bhd. ('INPEX') signed a Production Sharing Contract ('PSC') with PETRONAS, PETRONAS Carigali Sdn. Bhd. ('PCSB'), PT Pertamina Malaysia Eksplorasi Produksi ('PMEP') and Petroleum Sarawak Exploration & Production Sdn. Bhd. ('PSEP'). Block SK510 is an offshore hydrocarbon exploration block located off the coast of Sarawak, offshore Malaysia.
Block SK510 is the third exploration block awarded to INPEX in Malaysia following two exploration blocks awarded to the company in February 2023, being the 4E and SK418. The newly acquired block SK510 is expected to contribute to INPEX’s business shift to natural gas as outlined in INPEX Vision @2022 announced in February 2022 as well as expand the company’s operations in Southeast Asia, one of its core business areas. INPEX is committed to further strengthening its business in Malaysia and will continue to actively engage in this effort.
See related announcement: Expand its Portfolio, Pertamina and Official Partners Manage SK510 Block in Malaysia
Source: INPEX
