Petronas, a Malaysian oil and gas company, has awarded a production sharing contract (PSC) for Block SB311 to three companies – Conocophillips Sabah Gas, Shell Energy Asia, and Petronas Carigali Sendirian Berhad. The 1,046 square km block is located in the central part of the Sabah basin. Under the terms of the PSC, ConocoPhillips will hold a 40 per cent stake in the block, while Petronas Carigali and Shell Energy Asia will each possess a 30 per cent stake.
