Dyas is acquiring a 20% working interest in the SB 207/308 PSC off Sabah, East Malaysia in exchange for paying a promote on certain forward costs relating to the exploration campaign.
Lundin last week spudded the Maligan exploration well on Block SB307/SB308, targeting hydrocarbons in Miocene-aged sands.
Dyas, a wholly-owned subsidiary of SHV Holdings, will also be transferred a 20% working interest in the gas holding area in Block SB 303 off Sabah and a 15% stake in Lundin’s PM 328 PSC off Peninsular Malaysia.
Dyas’
