Petronas sells 40 per cent stake in Block 2F in Sarawak

Petroliam Nasional Berhad (Petronas) has sold a 40 per cent stake of its deep-water Block 2F in Sarawak to JX Nippon Oil & Gas Exploration Offshore Malaysia Sendirian Berhad. The two companies have also signed a production sharing agreement for the block. As part of the deal, JX Nippon will also conduct exploration in the block for four years. Petronas and GDF Suez E&P Malaysia hold stakes of 40 per cent and 20 per cent, respectively, in Block 2F.