Pertamina Works on Oil and Gas Fields in Malaysia

PT Pertamina (Persero) through PT Pertamina Malaysia Exploration of Production (PMEP) together with Mitra succeeded in winning the SK510 Exploration Block Auction through Malaysia Bid Round (MBR) 2023. MBR is a series of auction activities held every year by Malaysia Petroleum Management (MPM) Petronas namely Agency responsible for oil and gas resources in Malaysia. Participating Interest (PI) Holder of Participation Rights in the SK510 Block consists of Petronas Carigali SDN BHD which applies as an operator with a PI of 40%, PMEP and Inpex Malaysia E&P SK510 SDN BHD each has a 25%PI, and Petroleum Sarawak Exploration & Production SDN BHD has the remaining 10% PI.

The 1,864 km2 SK510 block located off the coast of Sarawak, Malaysia is a work area in the upstream asset management portfolio of PT Pertamina Hulu Energi (PHE) as the Subholding Upstream Pertamina. With this acquisition, there are a total of 6 blocks in the management of PMEP.

PMEP, is a subsidiary of PT Pertamina Internasional Exploration and Production (PIEP), which is affiliated with PHE, manages exploration and oil and gas production activities in the Sabah and Sarawak Malaysia regions with the type of Production Sharing Contract (PSC) contract. PMEP has PI in 3 production blocks namely SK309 (25.5%), SK311 Block (25.5%), and Block K (24%). Two exploration blocks namely SK510 (25%) and SK 314A (25.5%). Then, 1 Block of Development and Exploration- Block H (18% except the Rattan Field -24%).

Director of Strategic Planning and Business Development PHE Danar Dojoadhi, explained that Pertamina continues to strengthen the advantages possessed by taking opportunities that can support the company’s business growth by implementing the principles of environmental, social, and good governance (ESG).

“We believe that the management of the SK510 Block can strengthen Footprint PHE in Malaysia in an effort to achieve the company’s target by increasing oil and gas resource growth through exploration assets abroad,” Danar said in a written statement, Wednesday (1/24/2024).

Furthermore, Danar explained that expanding the work area through new exploration blocks, both domestic and international is very important to maintain the sustainability of fossil energy resources. PHE has also completed the acquisition of oil and gas blocks in several work areas including Mahakam & Flower Flowers in Eastern Indonesia, East Natuna in the Indonesia-Malaysia-Vietnam border area, and Masela in Maluku.

January 24, 2024, detikFinance

(https://finance.detik.com/energi/d-7157756/top-pertamina-garap-ladang-migas-di-malaysia)