Upland, partners to study Malaysian onshore block
UK-listed Upland Resources, Big Oil Ventures and Petroleum Sarawak have signed an agreement to carry out a joint technical study on Block SK334 onshore Malaysia, Upland said on September 2.
Block SK334 has a size of approximately 6,685 km2 and is located in the northern region of onshore Sarawak. The study is expected to be completed by end of 2023.
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Sedimentary basins in Sarawak are proven prolific hydrocarbons bearing basins with continuing recent discoveries, Upland said, adding Block SK334 is bordering discovered oil fields across the border with Brunei and share similar geological settings.
Petroleum Sarawak is a state-owned oil and gas exploration firm established and owned by the state government of Sarawak.