Malaysia Petroleum Management
On 3 December 2019, PETRONAS has awarded Block PM409 offshore Peninsular Malaysia, to EnQuest Petroleum Production Malaysia Ltd (EnQuest), a wholly-owned subsidiary of EnQuest PLC, and PETRONAS Carigali Sdn Bhd (PCSB) as part of the 2019 Malaysia Bidding Round.
EnQuest is the operator for Block PM409, with a participating interest of 85 per cent, while PCSB owns the remaining 15 per cent.
Signing on behalf of PETRONAS was the Senior Vice President of Malaysia Petroleum Management, Mohamed Firouz Asnan, while EnQuest by its Managing Director, John Penrose and PCSB was represented by Vice President of Exploration, Emeliana Rice-Oxley.
Speaking at the event, Firouz said the signing today would continue to contribute towards the sustainability of the upstream industry in the country.
“The effort to sustain Malaysia’s petroleum as a vibrant industry can only be achieved through effective collaborations with partners with unique value propositions made possible through the innovative PSC models offered by PETRONAS,” he added.
Amjad Bseisu, EnQuest Chief Executive Officer said, EnQuest is delighted to have been awarded the Block PM409 PSC and to expand presence in Malaysia. The block contains several undeveloped discoveries providing future opportunities for EnQuest to demonstrate its proven capabilities in low-cost drilling and near-field development.
The Malaysia Bidding Round is an annual event organised by PETRONAS to market Malaysia’s acreages to existing and new players who have the capability to unlock the potential of hydrocarbon resources in Malaysia.
