JX Nippon Oil & Gas Exploration Corporation (President: Mr. Shigeo Hirai) is pleased to announce that its subsidiary, JX Nippon Oil & Gas Exploration (Offshore Malaysia) Sdn. Bhd. (President: Mr. Hironori Wasada) has agreed to enter into a Production Sharing Contract (PSC) for Deepwater Block 3F, Sarawak with PETROLIAM NASIONAL BERHAD (“PETRONAS”), the national oil company of Malaysia, effective from December 11, 2013.
Deepwater Block 3F is located in the northwest of Sarawak, with approximately 4,200 square kilometers surface area and 150-1,300 meters water depth and is a prospective block for oil discovery. JX Nippon Oil & Gas Exploration (Offshore Malaysia) Sdn. Bhd. holds 40% Participating Interest and will participate in the exploration activity as a non-operator.
Deepwater Block 3F is our 7th project in Malaysia.
In Malaysia, we are the operator for Block SK10, offshore Sarawak where we are involved in gas production and are currently studying further development of the block. We are also the operator and carrying out exploration activities in Block SK333 onshore Sarawak, Deepwater Block R offshore Sabah and Deepwater Block 2F offshore Sarawak. In addition, we are participating as a non-operator in gas production activities in Block SK8 and in exploration activities in Block PM308A offshore Peninsular Malaysia.
We consider Malaysia to be one of the important core countries for our business and will make further endeavours to increase our activities and presence in Malaysia.
