PETRONAS officially awarded the Production Sharing Contract for Block V, Block W and ND 10 to a consortium of ExxonMobil and Petronas Carigali (PCSB) on 12 March 2018. The blocks will be operated by ExxonMobil with 50% interest while Petronas Carigali (PCSB) will have the remaining 50% stake. Application for the blocks was possibly submitted during the 2H of 2017.  Financial terms of the PSC were not disclosed. The commitments for the PSC will include acquisition and reprocessing of new 3D seismic data and drilling of one exploration well in each block during the first three years of exploration period.  The frontier blocks, Block V, Block W and ND 10 covers a total area approximately 18,000 sq km. Block V and Block W are located in water depth range of 2,000 to 2,700 m (ultra deepwater). The blocks straddles the Baram Delta and Northwest Sabah Trough. ND 10 is located in the NW Sabah Platform (Dangerous Ground) with a maximum water depth of 1,300 m. Main exploration targets in the area are the carbonate buildup equivalent to the Oligocene Nido carbonate play in the Northwest Palawan Basin in Philippines and the pre-MMU syn-rift fault blocks play. As to date, no exploration drilling has taken place in these blocks.  Tepat 1 (Total) was a play opener for the Northwest Sabah Trough. The well, drilled between December 2017 â March 2018 using the Maersk Drilling âMaersk Delivererâ S/S, encountered gas in the carbonate buildup equivalent to the Oligocene Nido carbonate play in the Northwest Palawan Basin, Philippines.  Background Information  Block V    Block V was previously promoted as part of the 2014 Malaysia Exploration Opportunities.    Block V covers an area approximately 2,900 sq km straddles the Baram Delta and Northwest Sabah Trough and located in water depth range of 2,000 to 2,700 m. The block was previously operated by Murphy Oil under two different PSCâs: Block K (1999 â 2006) and Block P (2006 â 2013). Block P (excluding Rempah field) was partially relinquished on 22 January 2013. The Rempah gas holding area was retained until 22 January 2018.  The block is covered by 2D and 3D seismic data acquired between 2001 and 2008. No exploration drilling was conducted in the block by previous operators.   Block W  Block W previously promoted as part of the 2015 Malaysia Exploration Opportunities.    OB4-00 covers an area approximately 4,600 sq km with majority in the Northwest Sabah Trough and located in water depth range of 2,000 to 1,700 sq km. The block was previously operated by Murphy Oil under Block K PSC (1999 â 2006) and BHP Billiton under Block Q PSC (2007 â 2014). Â   The nearby fields are Rotan located approximately 30 km southeast, Dolphin located approximately 22Â km southeast and Buluh located approximately 33 km southeast of the block.    The block is covered by 2D and 3D seismic data acquired between 2008 and 2012. No exploration drilling was conducted in the block by previous operators.   ND 10  The block is only covered by 2D seismic data jointly acquired by Petronas Carigali and BHP Billiton between mid-May and late June 2012. The 6,300 line km 2D seismic survey was acquired using the CGGâs âElnusa Finderâ S/V.  No exploration drilling was conducted in the block.    Petroleum System  Source Rock  A variety mode of potential mixed oil and gas-prone source rocks could be present including pre-and post-Stage III interbedded shales, organic rich shales or syn-rift stage, mainly pre-MMU, deposited in lacustrine or restricted marine conditions, distal deltaic shales of prograding deltas from the east.    Reservoir  The Early Eocene and older syn-rift clastics (pre-MMU/ DRU) and local carbonate buildup equivalent to the Oligocene Nido carbonate play in the Northwest Palawan Basin in Philippines.   Trap   Tilted fault block in the Pre-MMU syn-rift play and carbonate buildups on rift shoulders  Seal  Intra-formational deepwater shales. The composited condensed sections on the top of syn-rift, pre-MMU are could potential be a regional seal for the lower syn-rift traps in the area.
PETRONAS officially awarded the PSC for Block V, Block W and ND 10 to a consortium of ExxonMobil (op, 50%) and Petronas Carigali (50%).	