RH Petrogas gains first Malaysia block

Market entry: RH Petrogas on the map with Malaysia block award

RH Petrogas

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Bill Lehane

 06 December 2012 11:47 GMT

Singapore independent RH Petrogas has gained its first production sharing contract in Malaysia with the award of a block onshore Sarawak.

The Singapore-listed explorer will hold an 80% stake in Block SK 331 with Malaysia’s Petronas on 20%.

Chief executive Tony Tan said the entry into Malaysia - adding to existing blocks in Indonesia and China - matched the explorer’s Asia-Pacific growth strategy.

RH PEtrogas is committed to a three-year work programme including seismic acquisition and exploratory drilling on the 11,600-square kilometre block, where the company says past exploration has proved an active petroleum system.

“Geologically, the block is the onshore extension of the Balingian Basin which contains several oil and gas fields in the offshore area,” the explorer commented.

The onshore…

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