Malaysia-Brunei unitisation pact bodes well for Shell

Malaysia and Brunei have finally formalised a previously stalled unitisation agreement for the Gumusut-Kakap and Geronggong-Jagus East fields that straddle the international maritime boundary between the two countries. The about turn bodes well for Anglo-Dutch supermajor Shell, which has stitched up most of the acreage in Brunei’s offshore.

“The formalised unitisation agreement firmly attests the continuing collaboration between Malaysia and Brunei and establishes the platform for the joint development of the fields by Petronas and the National Unitisation Secretariat of Brunei to further enhance the value derived from these assets for both countries,” Malaysian national oil company (NOC) Petronas said yesterday.