Searah (Malaysia) launched upstream oil and gas operations in Malaysia from July 1, it said on Friday, after completing the transfer of operatorship from Petronas Carigali, a subsidiary of state energy firm Petronas.
The oil and gas company is the Malaysian operating entity of Searah Limited, a joint venture between Petronas and Italian energy major Eni ENI.MI.
Searah (Malaysia) has assumed operatorship of key production sharing contracts in Malaysia, the company said in a statement.
The transition makes the company the operator of five major upstream assets, forming part of Searah Limited’s wider regional portfolio of 19 assets in Malaysia and Indonesia, it added.
"The commencement of operations reflects months of dedicated planning, integration and collaboration. As we move forward, our focus remains on operating safely and reliably, creating long-term value for our stakeholders and building a strong foundation for Searah's future growth," said Searah (Malaysia) CEO Mohd Johan Ariff Mohd Supian.
(Reuters - Reporting by Ashley Tang; Editing by Joe Bavier)