Block SK510 is a shallow-water offshore hydrocarbon exploration block located off the coast of Sarawak, Malaysia, and is the third exploration block awarded to INPEX in Malaysia, following the award of exploration blocks 4E and SK418 in February last year
Japanese oil and gas company INPEX, together with its partners, has been awarded the exploration Block SK510 as part of Malaysia Bid Round 2023.
INPEX secures new exploration block offshore Malaysia. (Credit: Arvind Vallabh on Unsplash)
The bid round was launched by Malaysia Petroleum Management (MPM), and Petroliam Nasional Berhad (PETRONAS) as the custodian of the country’s hydrocarbon resources.
Block SK510 is a shallow water offshore hydrocarbon exploration block located northeast off the coast of Sarawak, offshore Malaysia.
It is the third exploration block awarded to INPEX in Malaysia, following the award of exploration blocks 4E and SK418 to the company in February last year.
INPEX said the new block SK510 would help its business shift to natural gas and expand the company’s operations in Southeast Asia, one of its core business areas.
As part of the award, INPEX through its subsidiary, INPEX Malaysia E&P SK510, signed a production-sharing contract (PSC) with PETRONAS and others.
The others include PETRONAS Carigali (PCSB), PT Pertamina Malaysia Eksplorasi Produksi (PMEP) and Petroleum Sarawak Exploration & Production (PSEP).
Recently, INPEX has teamed up with Masdar, Tokyo Gas and Osaka Gas to conduct a joint feasibility study on e-methane production in Abu Dhabi, the United Arab Emirates (UAE).
Masdar and INPEX have been conducting a joint study to produce e-methane using low-cost renewable energy in Abu Dhabi based on an agreement signed in July last year.
Tokyo Gas and Osaka Gas have newly joined the collaboration, with plans to off-take e-methane in volumes equivalent to 1% of each company’s annual city gas demand.
The two are planning to introduce e-methane to cover 1% of their respective annual city gas demand by 2030 and further enhance the volume from the total of projects by 2050.
Together, the four partners will evaluate the economics of producing and procuring feedstocks, such as green hydrogen and CO2, along with the production and transportation of e-methane.