SMJ Acquires 50% Stake in Petronas' Block Offshore Sabah

©wanfahmy/AdobeStock
©wanfahmy/AdobeStock

SMJ, a company owned by the Sabah State Government, has signed an agreement with Petronas Carigali for the acquisition of  Petronas' 50% non-operating stake in the Samarang production sharing contract (PSC).

Petronas Carigali will continue to be the operator of Samarang PSC, with SMJ on board as the non-operating partner. 

The Samarang field, which is located approximately 50km offshore Sabah, is currently producing approximately 36,000 barrels of oil and gas equivalent per day (kboe/d). 

The gas, at 134 million standard cubic feet per day (MMscf/d) is part of the supply for customers in Kota Kinabalu and Labuan.

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