KUALA LUMPUR, Aug 30 (Bernama) — PETRONAS has signed two new Small Field Asset (SFA) Production Sharing Contracts (PSCs) with Rex International Holding Limited (Rex) and Duta Marine Sdn Bhd (Duta Marine) for the Rhu-Ara and Diwangsa clusters offshore Peninsular Malaysia.
The award of these PSCs marks Rex’s maiden entry into Malaysia’s upstream industry, in partnership with local company Duta Marine. Rex holds 95 per cent participating interest with Duta Marine holding the remaining five per cent in both PSCs. Rex brings to the table significant operating experience and expertise in developing and producing small oil fields in the Middle East as well as participation in joint ventures in the North Sea.
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