Petronas has awarded two new offshore production sharing contracts to a joint venture that will exploit two of Malaysia’s small field assets.
The national oil company on 30 August 2021 awarded new Small Field Asset PSCs for the Rhu-Ara and Diwangsa clusters offshore Peninsular Malaysia to Singapore-based Rex International and Malaysia's Duta Marine.
The award marks Rex’s debut into the South-East Asian nation in partnership with local player Duta Marine. Rex will hold a 95% participating interest in both PSCs with Duta Marine having the remaining 5% stake.
