KUALA LUMPUR (NewsRise) -- Malaysia's national oil company Petroliam Nasional, or Petronas, has awarded its first production sharing contract for 2016 to three oil companies to explore a hydrocarbon block off the Sarawak state.
Thailand's PTT Exploration & Production will operate the SK410B oil field with joint venture partner Kuwait Foreign Petroleum Exploration Company, Petronas said in a statement. PTT and the state-run KUFPEC will each hold a 42.5% stake in the block while Petronas will own the remainder 15% through a wholly owned unit.
