Roc Oil acquires interest in PSC offshore Malaysia

Roc Oil Co. Ltd.

Roc Oil Co. Ltd. has farmed in to a production sharing contract (PSC) that includes three fields – D35, D21, and J4 – located offshore Malaysia in water depths of approximately 164 feet (50 meters).

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.

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