Shell, Petronas sign Sarawak production pact
BY JASON NG
KUALA LUMPUR -- Shell said it has signed a 50:50, three year Production Sharing Contract (PSC) Petronas. Shell and Petronas will explore for oil and gas in a 2,727 sq km area in a block in Central Luconia, offshore Sarawak, Shell said in a statement posted on its website.
Shell is the largest gas producer in Malaysia, accounting for 60%. Almost all its gas is bought by the Petronas LNG complex at Bintulu, Sarawak.
Petronas could not immediately be reached for comment.
Dow Jones Newswires