Petronas has awarded two new small field asset (SFA) production-sharing contracts (PSCs) to Singapore-listed Rex International for the Rhu-Ara and Diwangsa clusters offshore Peninsular Malaysia.
Petronas MPM hopes to lure investors to Malaysia’s shallow-water and late-life assets after revealing new fiscal terms as part of an ongoing effort to revive its domestic upstream sector. The move could help Malaysia steal a march on neighboring countries.
Petronas MPM has officially introduced Malaysia’s Small Fields Asset (SFA) production-sharing contract framework as part of an effort to revive its domestic upstream sector and lure new money.