TWO MONTHS after farming-in to a production sharing contract off the coast of Malaysia, Australia’s Roc Oil has agreed to farm-out a stake to Malaysia’s Dialog Resources.
The company has signed a Letter of Intent to farm out a 20 per cent stake in the Production Sharing Contract (PSC) for the three fields D35, D21 and J4, located offshore Malaysia in water depths of about 50 metres.
The fields produce at a combined daily oil rate of about 10,000 barrels of oil per day, with gas sales at about 17 million cubic feet per day.
The Dialog farm-in will reduce Roc’s participating interest to 30%.
The farm-out is subject to the approval of operator Petronas, which has a 50% stake, as well as joint venture approval and completion of documentation