US operator Hess has concluded negotiations with Malaysia’s national oil company Petronas to amend the upstream gas sales agreement (UGSA) for the PM 302 production sharing contract which is part of the North Malay Basin project.
The revised agreement includes the sale and purchase of gas produced at the Kangsar field offshore Peninsular Malaysia plus any future gas output from the PM 325 PSC under the existing UGSA terms.
The Kangsar gas field was discovered in 2018 and is part of the recently sanctioned North Malay Basin (NMB) Phase 4A development, with first gas targeted in the third quarter of 2022.
