Japan’s JX Nippon Oil & Gas Exploration Corporation is planning to spud a wildcat well offshore Malaysia after entering into a Production Sharing Contract (PSC) with state-owned Petronas.
JX Nippon signed the deal for Deepwater Block 2F offshore Sarawak through its subsidiary, JX Nippon Oil & Gas Exploration (Offshore Malaysia) Sdn. Bhd., effective as of 19 September. The block is located off the northwest coast of Sarawak, and covers approximately 2,123.5 sq miles (5,500 sq km). Water depths in the block range from 100-1,200 m (328-3,937 ft).
The initial exploration period covers four years, and will see the drilling of a wildcat well, and the acquisition and processing of new CSEM data as well as the reprocessing of existing CSEM and 3D seismic data.
JX Nippon will hold a 40% interest as operator.
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