Rex awarded operatorship of two offshore Malaysia small-field clusters

Offshore staff

SINGAPORE – Rex International Holding and Malaysian partner Duta Marine have signed two production sharing contracts (PSCs) for the Rhu-Ara and Diwangsa Clusters offshore Peninsular Malaysia.

Rhu-Ara contains two oil field discoveries and Diwangsa a further four.

Both clusters were awarded under the Malaysia Bid Round 2020. The new PSC terms under the Small Fields Assets scheme include a pre-development phase of up to two years followed by a two-year development and a 10-year production period.

Rex will operate the two concession with a 95% share, the remaining 5% held by Duta Marine.

Dan Broström, Rex’s executive chairman, said his company “looks forward to working with Petronas to rapidly and cost-effectively develop the resources contained within the clusters….

“We will leverage on our experience [offshore] Oman, where we have proven to be an effective operator, to make these assets a success.”

08/31/2021