PETROS PARTICIPATES IN SARAWAK EXPLORATION BLOCKS

Date: 15 February 2023

State-owned oil and gas corporation expands upstream position through participation in 6 exploration blocks.

KUCHING, Sarawak, 15 February 2023 - Petroleum Sarawak Berhad (PETROS), via its subsidiary Petroleum Sarawak Exploration and Production (PSEP) Sdn Bhd today, signed several upstream agreements (PSC/JOA/LOU) formalising its participation in six (6) Sarawak Exploration Blocks marketed under the Malaysia Bid Round (MBR) 2022. 

Through PSEP’s participation in 3 of the exploration blocks i.e. SK2A, SK3B, and SK4E, marks PETROS pioneering into deepwater exploration in offshore Sarawak. These deepwater PSCs are going to be operated by Longboat Energy (2A) Limited, Sarawak Shell Berhad and Inpex Malaysia E&P 4E Sdn. Bhd., respectively; while the remaining three shallow water blocks i.e. SK325, SK328 and SK418, will be operated by Petronas Carigali Sdn. Bhd. 

PETROS Group Chief Executive Officer, Janin Girie commented, “The signings of these agreements are part of a focused effort to support further petroleum exploration activities to grow Sarawak’s resource base and to power the long-term socio-economic development of Sarawak by actively participating throughout the oil and gas value chain, while tackling the energy trilemma to balance reliability, affordability and sustainability.”

He added, “This is in line with our efforts to support the Sarawak Government’s aspiration of being a developed state by 2030 while also progressing the State’s Energy Transition and Green Energy Agenda for a more sustainable energy future, towards reducing our carbon footprint as we gear up towards net zero in 2050.” 

“PETROS is committed to our Purpose which is Harnessing Our Resources for the Sustainable Progress of Sarawak.” he concluded.

Since its inception in 2017, PETROS has grown into an integrated player throughout the oil and natural gas value chain – actively participating throughout the oil and gas value chain, streamlining efforts to power socio-economic development in Sarawak by increasing access to adequate hydrocarbon resources and expanding the domestic utilisation of natural gas through industry partnerships to maximise positive benefits for Sarawakians.

- END -