News listings

energy-pedia licensing

Malaysia flagMalaysia

Central & SE Asia / Australasia >>> Malaysia

Malaysia: Rex International awarded two Production Sharing Contracts by PETRONAS in Malaysia


30 Aug 2021

  • Contracts include operatorship of both licences
  • Addition of more contingent resources to the Group’s portfolio
  • Development and production concept to be modelled on successful implementation in Oman
Photo - see caption

Rex International, a technology-driven exploration and production company, has announced that together with its Malaysian partner, Duta Marine Sdn. Bhd. (DMSB) it has signed two Production Sharing Contracts ('PSCs') awarded earlier by PETRONAS, Malaysia’s national oil corporation. These PSCs are related to the development and production of the Rhu-Ara and the Diwangsa Clusters located in offshore Peninsular Malaysia. The Rhu-Ara Cluster contains two (2) discovered oil fields and the Diwangsa Cluster contains four (4) discovered oil fields. The Clusters are awarded following the Malaysia Bid Round 2020. The new PSC terms under the Small Fields Assets ('SFA') includes an up-to-two-year pre-development phase followed by a two-year development and a ten-year production period.

The participating interests of Rex and DMSB are 95% and 5% respectively with Rex being the operator of the PSCs.

Mr Dan Broström, Executive Chairman of Rex International Holding, said:

'Rex is very pleased to have been awarded two PSCs in Malaysia and looks forward to working with PETRONAS to rapidly and cost-effectively develop the resources contained within the Clusters. Over the next two years, our focus will be on the pre-development phase of the Clusters. The anticipated production will further grow the Group’s production and reserves base. We will leverage on our experience in Oman, where we have proven to be an effective operator, to make these assets a success.'

Original article link

Source: Rex International





Bookmark and Share


A global information service for upstream oil and gas opportunities - divestitures, farmins and farmouts and licensing rounds.


Subscriber Only Deals

Current Deals

Current Upstream Deals: 278

Completed Deals

Completed Upstream Deals: 6425

Company Profiles

Current Company Profiles: 2872

Corporate Activity

Current Corporate Activity articles: 4008

Companies Looking

Current number of articles: 461

Company Sales

Current Company Sales articles:1610

Geostudies

Current Geostudies articles: 907

How to subscribe

energy-pedia Jobs

RSS Feed Widget
See all jobs...


energy-pedia Databank

The energy-pedia databank contains links to information on the world financial and energy markets, including share prices, oil and gas prices and the global stock exchanges. Read more...



energy-pedia Glossary

A list of commonly used terms in the oil and gas industry. Read more...

Subscribe

Subscribe to the FREE
energy-pedia Daily Newsletter
Subscribe

Borchwix
Rose & Assocs 180
Syntillica
Merlin
Telos NRG
OPC
Government of South Australia
energy365
Union Jack Oil 149
Bayphase
About energy-pedia

energy-pedia news is a FREE news service written and edited by E and P professionals for E and P professionals.

We don't just report the news, we give you the technical background as well, with additional information derived from our unique energy-pedia opportunities service.
Contact us

energy365 Ltd

238 High Street
London Colney
St Albans
UNITED KINGDOM

Tel: +44(0)1727 822675

Email: info@energy-pedia.com