RH Petrogas, Petronas Sign Production Sharing Contract

RH Petrogas Limited has through its wholly-owned subsidiary, RHP (Mukah) Pte. Ltd., entered into a Production Sharing Contract (PSC) with Petronas for Block SK 331 onshore Sarawak.

The Singapore based company will operate the block with an 80% participating interest, with the remaining 20% owned by its partner Petronas Carigali Sdn Bhd, the exploration and production subsidiary of Petronas.

The block covers an area of approximately 11,600 square kilometers, which includes the area where the Bintulu LNG terminal is located. Geologically, the Block is the onshore extension of the Balingian Basin which contains several oil and gas fields in the offshore area.