GDF SUEZ Obtains 20 Pct in Block 2F Licence Off Malaysia

GDF SUEZ Obtains 20 Pct in Block 2F Licence Off Malaysia

GDF SUEZ has jointly entered the offshore deep water exploration Block 2F in Malaysia in partnership with JX Nippon Oil & Gas Exploration (40 %), the operator of the block, and PETRONAS Carigali (40 %). GDF SUEZ holds 20% participating interest in the license. The license has been recently awarded by PETRONAS, the national oil company of Malaysia, to the consortium. This is the first GDF SUEZ exploration & production licence in Malaysia.

Block 2F is located in the offshore Sarawak region, North-West of Borneo island, about 300-400 km off the coast of Malaysia. The license covers an area of approximately 5,500 km2 in water depths ranging from 100 to 1,200 m and lies in the Rajang Delta province. The deep water exploration campaign will last four years and will notably include different types of studies to prepare the drilling of an exploration well.

Jean-Marie Dauger, Executive Vice President of GDF SUEZ in charge of Global Gas & LNG Business Line said: “Through this acquisition, GDF SUEZ is strengthening its positioning in Asia-Pacific in a high potential area for exploration and production activities. Malaysia is a competitive landscape, where still a large part of active blocks are not yet licensed. The Group will take advantage of these new opportunities, especially through the potential LNG export to Asian markets”.

GDF SUEZ is already present in Malaysia in energy efficiency activities, through a partnership with Cyberview to operate and manage the district cooling network in Cyberjaya, Malaysia’s premier cybercity. GDF SUEZ is also selling LNG to PETRONAS to supply the first regasification capacities in Malaysia.

GDF SUEZ Exploration & Production International holds a balanced portfolio of 344 licences1 (54% operated) between mature regions and high potential exploration zones in 16 countries. In the Asia Pacific region, GDF SUEZ is a partner in the development of the Jangkrik project in Indonesia, east of Borneo and the operator of the floating liquefaction project Bonaparte LNG in the North West of Australia.

LNG World News Staff, September 19, 2013