Inpex Awarded Exploration Licenses in the Malaysia Bid Round 2022

Source Company Press Release
Company Inpex Corporation
Tags Country: Malaysia, M&A: Deals, Licensing Round, Upstream: Upstream News
Date February 15, 2023

INPEX CORPORATION (INPEX) announced it has executed Production Sharing Contracts (PSC) today with Petroliam Nasional Berhad (PETRONAS),  PETRONAS Carigali Sdn. Bhd. (PCSB) and Petroleum Sarawak Exploration & Production Sdn. Bhd. (PSEP) through its subsidiaries INPEX Malaysia E&P 4E Sdn. Bhd. and INPEX Malaysia E&P SK418 Sdn. Bhd. The PSCs cover Block 4E and Block SK418, offshore hydrocarbon exploration licenses located northeast of Sarawak in Malaysia that were recently awarded to INPEX following  PETRONAS’ Malaysia Bid Round 2022.

Block 4E and Block SK418 are the first exploration licenses awarded to INPEX in Malaysia since the company’s successful bid for two exploration licenses off the coast of Sabah in 2012. The newly acquired licenses are expected to contribute to INPEX’s shift to natural gas as outlined in INPEX Vision @2022 announced in February 2022 as well as expand the company’s operations in Southeast Asia, one of its core business areas. INPEX will continue to actively engage in further strengthening its business in Malaysia using the licenses as a platform.

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