Fossil Energy – PSCs
Sabah Shell Petroleum Company (SSPC), Shell Sabah Selatan (SSS) and Sarawak Shell Bhd (SSB) signed three Production Sharing Contracts (PSC) with Petronas, to explore oil and gas offshore Sabah and Sarawak.
SSPC and SSB will operate these exploration initiatives.
These three PSCs will comprise exploration of blocks SK439/SK440 in shallow water, off the coast of Sarawak and exploration of blocks SB-2W and SB-X in deep water, off the coast of Sabah.
Shell also signed the Joint Operating Agreements (JOAs) with co-venturers Petronas Carigali (PCSB) for the deep water offshore blocks SB-2W and SB-X and separately with Petroleum Sarawak Exploration and Production (PSEP) for the SK439/SK440 block.