JX acquires stake in Malaysia's deepwater
TOKYO: Japan’s JX Nippon Oil & Gas Exploration Corp said on Thursday it has acquired a 40 per cent stake in the Deepwater Block 2F off the coast of Sarawak state in Malaysia.
JX and Malaysia’s national oil company Petroliam Nasional Bhd (Petronas) have entered into a production sharing contract for the block, JX’s sixth block in Malaysia and its fourth as an operator, it added.
Petronas also holds a 40 per cent stake, while GDF Suez E&P Malaysia B.V. has the remaining 20 per cent. The exploration period is four years.
"Deepwater Block 2F is located in the northwest of Sarawak, with approximately 5,500 square kilometres surface area and 100-1,200 meters water depth," JX said.-- Reuters