Petronas awards Kebabangan Cluster PSC

Petronas, has awarded a production sharing contract to a three-company joint venture for exploration, development, and production of natural gas from the Kebabangan Cluster fields off Borneo.

Offshore staff

KUALA LUMPUR -- The Malaysian national oil corporation, Petronas, has awarded a production sharing contract to a three-company joint venture for exploration, development, and production of natural gas from the Kebabangan Cluster fields off Borneo.

Petronas subsidiary Petronas Carigali has taken a lead 40% stake in the Kebabangan Cluster PSC, which comprises of Kebabangan, Kamunsu East, Kamunsu East Upthrown, and Kamunsu East Upthrown Canyon.

Shell Energy Asia and ConocoPhillips Sabah Gas have each taken 30% stake in the PSC to be operated by Kebabangan Petroleum Operating Co.

Announcing the contract, Petronas said natural gas from the fields will be piped to the onshore Sabah oil and has terminal, which currently is under construction.

12/31/2007

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