KUALA LUMPUR, PC JDA Limited, a subsidiary of PETRONAS Carigali Sdn Bhd, has successfully concluded the negotiation with the Malaysia-Thailand Joint Authority (MTJA) and received approvals from Malaysian and Thai governments to annex the Block B-17 and C-19 Production Sharing Contracts (PSC) and Block B-17-02 (Open Area) into Block B-17- 01 PSC.
Under the terms of the annexation, it attains an Open Area and a 10-year production period extension until 2039. PC JDA Limited and MTJA have also committed to additional gas volume under an amended Gas Sales Agreement, which governs the sale and delivery of gas from the PSC areas to Peninsular Malaysia and Thailand.
Source: Nam News Network