KUALA LUMPUR, Nov 1 (Bernama) — PETRONAS has awarded a Production Sharing Contract (PSC) for Block PM524 to POSCO International E&P Malaysia Sdn Bhd (POSCO International) and PETRONAS Carigali Sdn Bhd (PCSB).
POSCO International, a wholly owned subsidiary of South Korean POSCO International Corporation, is the operator with 80 per cent participating interest. PCSB, PETRONAS’ wholly owned subsidiary, holds the remaining 20 per cent.
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