Psc News


Petrovietnam, Partners Sign PSC for Block Off Vietnam

Jun 25, 2025

Vietnam National Industry - Energy Group (Petrovietnam) and its joint venture partners officially signed the Product Sharing Contract (PSC) for Block 15-1 in the southern continental shelf of Vietnam.Block 15-1 is one of the oil and gas blocks…

ENEOS Gets Extension for Gas Block off Malaysia

Jun 20, 2025

Japan’s ENEOS Xplora, through its subsidiary ENEOS Xplora Malaysia, has signed an extension of production sharing contract (PSC) with Petronas for a block located off the coast of Sarawak in Malaysia.The PSC extension is for the block SK10 and will run for ten years…

Japanese Oil and Gas Firm Enters Two Blocks off Malaysia

Jun 19, 2025

Idemitsu Kosan Co has acquired interests in two oil and gas blocks located off the coast of Sarawak in Malaysia from South Korean SK earthon, and signed production sharing contracts (PSC) for the developments.The acquired interests are for the Block SK427…

Chuditch Gas Field Drilling Ops Get Delayed to Next Year

Jun 16, 2025

Sunda Energy, the AIM-quoted exploration and appraisal company focused on gas assets in Southeast Asia, has pushed back the drilling of appraisal well Chuditch-2, offshore Timor-Leste, for the first half of 2026.Chuditch-2 appraisal well on…

TotalEnergies and Partners Sign PSC Extension for Deepwater Block off Angola

Jun 12, 2025

TotalEnergies and its partners have signed a production sharing contract (PSC) extension for Block 17, located in deep waters offshore Angola.Block 17 is one of the country’s most prolific offshore oil exploration blocks and it is operated by TotalEnergies with Equinor…

TotalEnergies Sells Bonga Field Stake to Shell for $510M

May 29, 2025

TotalEnergies has signed an agreement with Shell for the sale of its non-operated interest in the Bonga field, offshore Nigeria, for $510 million.TotalEnergies, through its subsidiary TotalEnergies EP Nigeria, agreed the sale of its 12.5% interest…

EnQuest Grows South East Asia Operations

May 27, 2025

EnQuest provided an operations update ahead of its annual general meeting highlighting its growing footprint in South East Asia.The group announced several key growth initiatives across South East Asia in recent months, including the award of the DEWA PSC…

ADNOC’s XRG Partners Up with Petronas for Offshore Gas Block in Caspian Sea

May 14, 2025

XRG, a subsidiary of Abu Dhabi National Oil Company (ADNOC), Petronas and the Turkmenistan State Enterprise Hazarnebit have signed a new Production Sharing Contract (PSC) with the State Concern Turkmennebit for the offshore Block I gas and condensate fields in Turkmenistan…

EnQuest Bags Two Production Sharing Contracts off Indonesia

Apr 23, 2025

U.K.-based oil firm EnQuest, and its joint venture partners, have been confirmed as the winning bidders for two Production Sharing Contract (PSC) blocks in Indonesia’s Papua Barat, including Gaea and Gaea II.The blocks present a multi-Tscf unrisked…

Petrovietnam, Petronas Extend PSC for Offshore Block

Apr 09, 2025

Vietnam's state oil firm Petrovietnam and Malaysia's Petronas signed a deal to extend their long-standing Production Sharing Contract for an offshore oil block that overlaps a maritime boundary between the two countries, Petrovietnam said on Wednesday…

Shell Makes FID for Deepwater Gato do Mato Project off Brazil

Mar 21, 2025

Shell Brasil Petróleo, a subsidiary of Shell, has taken the Final Investment Decision (FID) for Gato do Mato, a deepwater oil and gas project in the pre-salt area of the Santos Basin, offshore Brazil.The Gato do Mato Consortium includes Shell (operator with a 50% stake)…

All Gas from Conrad’s Mako Field to be Sold to Indonesia’s PLN

Mar 12, 2025

The Indonesian Ministry of Energy and Mineral Resources (MEMR) has issued a directive to Conrad Asia Energy, the operator of the Mako Gas field offshore Indonesia, stating that all gas produced from the field would be sold to state-owned PT…

Cyprus Approves Updated Plan for Aphrodite Gas Field Development

Feb 17, 2025

The Cypriot government has approved the updated plan for the Aphrodite gas field, filed by Chevron-led consortium, which will see the construction of a floating production unit (FPU) and a pipeline for exporting gas to Egypt.Following Cypriot government’s approval of the plan…

Sunda Energy Starts Environmental Survey for Timor-Leste Oil and Gas Field

Jan 28, 2025

Sunda Energy, the AIM-quoted exploration and appraisal company focused on gas assets in Southeast Asia, has started environmental baseline survey in preparation for the drilling of the planned Chuditch-2 appraisal well off Timor-Leste.The survey…

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