[Malaysia] INPEX Awarded Exploration Licenses in the Malaysia Bid Round 2022

[escveritas]

TOKYO, JAPAN - INPEX CORPORATION (INPEX) announced it has executed Production Sharing Contracts (PSC) today with Petroliam Nasional Berhad (PETRONAS), PETRONAS Carigali Sdn. Bhd. (PCSB) and Petroleum Sarawak Exploration & Production Sdn. Bhd. (PSEP) through its subsidiaries INPEX Malaysia E&P 4E Sdn. Bhd. and INPEX Malaysia E&P SK418 Sdn. Bhd.

The PSCs cover Block 4E and Block SK418, offshore hydrocarbon exploration licenses located northeast of Sarawak in Malaysia that were recently awarded to INPEX following PETRONAS’ Malaysia Bid Round 2022.



Block 4E and Block SK418 are the first exploration licenses awarded to INPEX in Malaysia since the company’s successful bid for two exploration licenses off the coast of Sabah in 2012.

The newly acquired licenses are expected to contribute to INPEX’s shift to natural gas as outlined in INPEX Vision @2022 announced in February 2022 as well as expand the company’s operations in Southeast Asia, one of its core business areas. INPEX will continue to actively engage in further strengthening its business in Malaysia using the licenses as a platform.

About the Licenses

Title Block 4E (deep water block)
Location Offshore, northeast of Sarawak
Surface area 7,647 square kilometers
Water depth Between 120 and 2,000 meters
Shareholders and shareholding ratio
INPEX Malaysia E&P 4E Sdn. Bhd. (Operator): 52.5%
PCSB: 40.0%
PSEP: 7.5%

Title Block SK418 (shallow water block)
Location Offshore, northeast of Sarawak
License surface area 5,806 square kilometers
Water depth Between 120 and 1,300 meters
Shareholders and shareholding ratio
PCSB(Operator): 52.5%
INPEX Malaysia E&P SK418 Sdn. Bhd.: 40.0%
PSEP: 7.5%