INPEX has executed Production Sharing Contracts (PSC) with PETRONAS, PETRONAS Carigali and Petroleum Sarawak Exploration & Production (PSEP) through its subsidiaries INPEX Malaysia E&P 4E and INPEX Malaysia E&P SK418. The PSCs cover Block 4E and Block SK418, offshore hydrocarbon exploration licenses located northeast of Sarawak in Malaysia that were recently awarded to INPEX following PETRONAS’ Malaysia Bid Round 2022.
Block 4E and Block SK418 are the first exploration licenses awarded to INPEX in Malaysia since the company’s successful bid for two exploration licenses off the coast of Sabah in 2012.
The newly acquired licenses are expected to contribute to INPEX’s 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 will continue to activelyengage in further strengthening its business in Malaysia using the licenses as a platform.
Source: INPEX
