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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

 

11/27/2012

 

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