The fields are 100% owned and operated by Petronas Carigali, and ROC has farmed into a 50% participating interest. The fields are in production with a combined daily oil rate of approximately 10,000 barrels of oil per day (bopd) and gas sales of approximately 17 million standard cubic feet per day (MMscf/d) gross working interest. ROC’s economic interest (50%) of the 2P reserves from the fields is 8.7 million barrels of oil equivalent (MMboe).
The farm-in agreement includes amendments to the existing PSC effective from Jan. 1 until December 2034. The PSC terms are designed for field redevelopment and enhanced oil recovery (EOR) to commercially encourage progressive incremental oil development over the full life of the PSC.