Petronas wins Sudan contract

Petronas wins Sudan contract

KUALA LUMPUR (Reuters):- Malaysian state oil company Petroliam
Nasional Bhd said on Thursday it had won an exploration and
production contract in Sudan as part of a group of companies.

Petronas and its partners -- Sudapet Ltd, IPC Sudan Ltd and
OMV Aktiengesselshaft -- were awarded a contract for Block 5B
onshore by the government of Sudan, the Malaysian oil firm said
in a statement.

Petronas will hold a 41 percent stake in the block while IPC
and OMV will each own 24.5 percent. Sudapet will hold the
remaining 10 percent.

"The contractor will reprocess all existing seismic data,
acquire and process 1,000 line-km of new 2-D seismic data, as
well as drill three wildcat wells," Petronas said.

"The contractor's minimum financial commitment for the
contract is $33 million."

Petronas, which is involved in four other blocks in Sudan's
oil-rich Muglad Basin, has been expanding its overseas operations
to help reduce its dependence on Malaysia's oil and gas reserves.