As per the terms of both PSCs, SapuraKencana will operate the blocks with 70% stake whereas M3nergy will own up to 25% of the equity.
Located in the eastern part of Sabah, Malaysia, the SB331 and SB332 blocks measure 13,114km² and 17,933km², respectively.
The partners aim to drill two wildcat wells and acquire 500 line kilometers of new 2D seismic data in Block SB331 and to drill one wildcat well and acquire 100 line kilometers of new 2D seismic data in Block SB332.
Additionally, the team will perform other integrated studies based on existing data for the two blocks.
