Petros, Petronas sign up to gas, carbon storage ventures in Sarawak
Oct. 28, 2022
Petronas Carigali has agreed to sell its 45% non-operated interest in the production sharing contract for Block SK407 offshore Sarawak to a Petros subsidiary.
KUCHING, Malaysia — Petronas Carigali has agreed to sell its 45% non-operated interest in the production sharing contract (PSC) for Block SK407 offshore Sarawak to Petros subsidiary Petroleum Sarawak Exploration and Production (PSEP).
This will be PSEP’s third upstream venture in Malaysia following farm-ins to the MLNG Satu and Kumang Cluster PSCs in 2021.
Petronas also has signed collaboration agreements with Petros (Petroleum Sarawak) under the Sarawak Gas Roadmap.
One involves expanding use of natural gas within the state through supplying 60 MMcf/d from 2026 to the proposed 400-MW combined cycle gas turbine power station in Miri.
Petronas will develop new gas resources and the associated offshore and onshore infrastructure to support the additional gas supply, marking the start of the Miri Hub development as outlined in the Roadmap.
In addition, Petronas and Petros will work to establish carbon capture and storage, positioning Sarawak as a regional sequestration hub.
