AUSTRALIA’s Roc Oil Company will farm-in to a Production Sharing Contract (PSC) off the coast of Malaysia in water depths of about 50 metres.
The PSC covers three fields, D35, D21 and J4, all wholly owned and operated by Petronas, and produce at a combined daily oil rate of about 10,000 barrels of oil per day and gas sales of about 17 million cubic feet per day.
Roc will farm into a 50 per cent operating interest, with company chief executive Alan Linn saying the deal was in line with the company’s Asian development strategy.
“The fields provide a portfolio of immediately bookable reserves plus contingent and prospective resources, which combined materially add to and extend the reserves and resources life of Roc,” he said.
“The Fields, particularly D35, contain material in place oil and gas volumes, and overall field recovery is expected to benefit significantly from the introduction of secondary and tertiary recovery technologies.”
Petronas Carigali will continue to be operator of the project, remaining responsible for operations and maintenance of the facilities, while Roc will serve as project development manager, responsible for subsurface management, well engineering, new facilities projects and project execution.