Total's wholly-owned subsidiary Total E&P Malaysia has signed a production sharing contract with national oil company Petronas. The contract covers Blocks PM303 and PM324, located around 100 kilometers offshore Peninsular Malaysia in 50 to 80 meters of water depth.
Total E&P Malaysia will hold a 70% interest in and operate each block, alongside partner Petronas Carigali. The work commitments during the exploration period encompass seismic data acquisition and high-pressure/high-temperature exploration drilling, an area in which Total enjoys recognized expertise.
The acquisition reflects Total's commitment to expanding its relations with Petronas and broadening its presence in Southeast Asia.
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