Malaysian state-owned Petronas has awarded the production sharing contract (PSC) for the South East Collins Cluster under the newly introduced small field asset PSC terms to its subsidiary Vestigo Petroleum, it said on April 21.  

The South East Collins Cluster, located in water depths of 42 to 45 m 70km northeast of Labuan Island, comprises two fields, South East Collins and Lokan, which were discovered in the 1980s.   

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Vestigo also has PSAs for the Irong Cluster, SK315 and PM335, and a risk-sharing contract for the Tembikai Chenang field. It holds non-operating interests in PM9 PSC and SK407 PSC.