SK Innovation and its subsidiaries entered the resource exploration business in 1983.Īs of April 2022, they currently operate projects in 11 blocks and run four LNG projects in eight countries, producing 51,000 barrels of oil and natural gas equivalent per day. “By leveraging the technologies and capabilities that we gained through our experiences in the nearby exploration block in Vietnam, we will maximize the prospects of the Malaysian block that will serve us as a bridgehead for our mid-and long-term business expansion in the Southeast Asian countries,” said an official from SK earthon. Commercialization of petroleum or gas will take eight to 10 years. SK earthon did not disclose the exact value of the investment.ĭevelopment and production level can be decided after four years of exploration. SK 427 Block located offshore Sarawak, Malaysia. SK earthon will collaborate with PETROS, which holds the remaining 15 percent share of the block, to carry out active explorations. SK earthon with 85 percent stake in the oil block will be responsible for the exploration, development, and production. Sarawak is an area where a series of medium and large-size petroleum resources have been found, with a pipeline system established for exploration blocks. It had been awarded Block SK 427, an oil block located off the coast of Sarawak last year. SK earthon announced on Sunday that it signed a production sharing contract (PSC) with Malaysia`s state-run oil company Petroliam Nasional Berhad (PETRONAS) and Petroleum Sarawak Exploration and Production (PSEP) on April 22. SK earthon Co., resource exploration unit under South Korea’s SK Innovation Co., will join fuel tapping in one of the most lucrative energy resource-rich basins along the coast of Sarawak of Malaysia. From left: Head of E&P Portfolio Transformation Office Kim Kyoung-jun, Head of Exploration & New Venture Office Bang Sun-taek, CEO Myeong Seong, Head of E&P Tech. SK Earthon representatives take a commemorative photo after signing a Production Sharing Contract for Block SK 427 offshore Malaysia with PETRONAS and PETROS on April 22 (local time).
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |