PETRONAS Carigali and Salamander Energy Malaysia have secured a PSC from PETRONAS for Block PM322 in the Straits of Malacca. Under the terms of the PSC, Salamander Energy will have 85 per cent equity, with partner PETRONAS Carigali owning the remaining 15 per cent interest. Salamander will be the operator of the block. The two parties have committed to drilling one exploration well in the block to a minimum depth of 1,400 metres, as well as acquire and process 600 square km of new 3D seismic data. The minimum financial commitment for the block is $18 million.
