MEO Australia, Brooke Dockyard to Work Together in Malaysian Oil, Gas Space

MEO Australia and Sarawak based Brooke Dockyard & Engineering Work Corporation have decided to cooperate in exploring and developing oil and natural gas assets in Malaysia.

The two companies have signed an agreement to form a consortium to cooperate to identify and jointly bid on oil and gas exploration and development opportunities within Sarawak and the whole of Malaysia, MEO announced Wednesday. 

Under the agreement, MEO will provide technical assistance and opportunity evaluation assistance to Brooke and in return Brooke will fund the evaluation activities and the exploration component of joint bids for successfully screened opportunities that meet the collective criteria of the partners. 

For the initial opportunity to be considered under the agreement, Brooke will have a 75 percent participating interest and MEO a 25 percent participating interest.