PT Pertamina Malaysia Eksplorasi Produksi (PMEP) and partners won the SK510 exploration block auction in Malaysia through the Malaysia Bid Round (MBR) 2023.
MBR is a series of bidding activities held annually by Petronas’ Malaysia Petroleum Management (MPM), the body responsible for oil and gas resources in Malaysia.
Director of Strategic Planning and Business Development of PT Pertamina Hulu Energi (PHE) Danar Dojoadhi in a statement in Jakarta on Tuesday said Pertamina continues to strive to strengthen its advantages by taking opportunities that can support the company’s business growth by implementing good environmental, social, and governance (ESG) principles.
The signing ceremony was held in Kuala Lumpur, Malaysia on Tuesday by PMEP President Director Fuji Koesumadewi. The event was also attended by Danar Dojoadhi and Executive Vice President and Chief Executive Officer of Upstream Petronas Datuk Adif Zulkifli along with Senior Vice President of MPM Petronas Datuk Ir. Bacho Pilong.
Furthermore, Danar said that expanding working areas (WK) through new exploration blocks, both domestic and international is very important to maintain the sustainability of fossil energy resources.
PHE, he said, has also completed the acquisition of oil and gas blocks in several WKs, including Peri Mahakam & Bunga in Eastern Indonesia, East Natuna in the Indonesia-Malaysia-Vietnam border area, and Masela in Maluku.
Meanwhile, Datuk Ir. Bacho said Petronas has a long-term relationship with Pertamina even before the birth of Petronas 50 years ago.
The participating interest (PI) holders in Block SK510 consist of Petronas Carigali Sdn. Bhd. as operator with 40 percent participating interest, PMEP and Inpex Malaysia E&P SK510 Sdn. Bhd each have a 25 percent working interest, and Petroleum Sarawak Exploration & Production Sdn. Bhd has the remaining 10 percent PI.
The 1,864 km2 SK510 block located offshore Sarawak, Malaysia is a working area in PHE’s upstream asset management portfolio, as Pertamina’s Upstream Subholding. The acquisition brings the total to six blocks under PMEP’s management.
PMEP is a subsidiary of PT Pertamina International Exploration and Production (PIEP) which is affiliated with PHE, managing oil and gas exploration and production activities in Sabah and Sarawak, Malaysia with a production sharing contract (PSC) type contract.
PMEP has PIs in three production blocks. First, SK309 (25.5 percent), Block SK311 (25.5 percent), and Block K (24 percent). Second, two exploration blocks K510 (25 percent) and SK 314A (25.5 percent).Third, one development and exploration block Block H (18 percent, except Rattan Field 24 percent).