ConocoPhillips Wins Block Off Malaysia
Malaysian state-run Petronas said on February 19 it had awarded Block SB405, off the coast of Sabah, to ConocoPhillips and Petronas Carigali.
“The award of this exploration block is expected to bolster exploration activities off the coast of Sabah following the opening of more block investment opportunities in the country,” the company said.
ConocoPhillips will operate Block SB405 with a 85% interest, while Petronas Carigali, a subsidiary of Petronas, will hold the remaining 15%. SB405 is the new addition to ConocoPhillips’s existing interests in five production sharing contracts in Malaysia, Petronas said.
Block SB405 is located in the north east Sabah basin, off the coast of Sandakan, with an area size of 5,857 km2 and in a water depth of up to 100 m.