Our assets

The company has varying stages of exploration, development and production activities across approximately 2.7 million net acres in Malaysia, with working interests in six production sharing contracts (PSC).

Four of these PSCs are located in waters off the eastern Malaysian state of Sabah: Block G, Block J, the Kebabangan Cluster (KBBC), which we do not operate, and Block SB405, an operated exploration block acquired in 2021. We also operate another two exploration blocks, Block WL4-00 and Block SK304, in waters off the eastern Malaysian state of Sarawak.

Block G

Malikai

Operator: Shell (35.0%)
Co-venturers: ConocoPhillips Sabah Ltd (35.0%), PETRONAS (30.0%)
ConocoPhillips Sabah Ltd owns a 35% working interest in Malikai. Malikai Phase 2 development first oil was achieved in February 2021. Malikai operates on a tension leg platform and pipes oil to the Kebabangan (KBB) platform for processing. Oil evacuation is via pipeline to Sabah Oil and Gas Terminal (SOGT) for tanker liftings.

Siakap North-Petai (SNP)

Operator: PTTEP (22.4%)
Co-venturers: PETRONAS (26.0%), ConocoPhillips Sabah Ltd (21.0%), Shell (21.0%), Pertamina (9.6%)

ConocoPhillips Sabah Ltd owns a 21% working interest in the unitized SNP oil field. First oil from SNP Phase 2 was achieved in November 2021. The subsea system in the SNP oil field is tied back to a floating production, storage and offloading vessel (FPSO) operated by PTTEP.

The PSC for Block G expires in 2033.

Block J^*

Gumusut¹

Operator: Shell (29.5%)
Co-venturers: ConocoPhillips Sabah Ltd (29.5%), PETRONAS (17.3%), PTTEP (7.1%), Pertamina (3.1%)

ConocoPhillips Sabah Ltd owns a 29.5% working interest in the unitized Gumusut field. Gumusut Phase 3 first oil was achieved in July 2022. Development drilling associated with Gumusut Phase 4, a four-well program targeting the Brunei acreage of the unitized Gumusut field that straddles Malaysia and Brunei waters, is planned to commence in 2024 with first oil anticipated in early 2025. The unitized Gumusut field is operated on a floating production system (FPS) with oil evacuation via a pipeline to SOGT for tanker liftings.

The PSC for Block J ends in 2038.

Kebabangan (KBBC) Cluster

Kebabangan, Kamunsu East and Kamunsu East Upthrown Canyon Operating Company Operator: Kebabangan Petroleum

Operator: Kebabangan Petroleum Operating Company (KPOC)
Co-venturers: PETRONAS (40.0%), ConocoPhillips Sabah Gas Ltd (30.0%), Shell (30.0%)

ConocoPhillips Sabah Gas Ltd owns a 30% working interest in the Kebabangan, Kamunsu East and Kamunsu East Upthrown Canyon gas and condensate fields. Gas is transported from the KBB platform via pipeline for sale to the domestic gas market. During 2019, KBB tied in to a nearby third-party floating LNG vessel which provided increased gas offtake capacity.

The PSC for the cluster ends in 2037.

Exploration and business development

Block WL4-00

Operator: ConocoPhillips Sarawak Ltd (50.0%)
Co-venturer: PETRONAS (50.0%)

ConocoPhillips Sarawak Ltd owns a 50% working interest and operates Block WL4-00. Block WL4-00 encompasses 0.3 million net acres primarily in the Salam and Benum fields. The company continues to evaluate the block and information from prior well results. A 3D seismic survey was acquired in 2023, and processing and evaluation of this data is currently ongoing.

Block SK304

Operator: ConocoPhillips Sarawak Oil Ltd (50.0%)
Co-venturers: Kufpec (35.0%), PETRONAS (15.0%)

ConocoPhillips Sarawak Oil Ltd owns a 50% working interest and operates Block SK304. Block SK304 encompasses 1.1 million net acres off the coast of Sarawak, offshore Malaysia. The company continues to evaluate the block and information from prior well results.

Block SB405

Operator: ConocoPhillips East Malaysia Ltd (85.0%)
Co-venturer: PETRONAS (15.0%)

In 2021, ConocoPhillips East Malaysia Ltd was awarded operatorship and an 85% working interest in Block SB405 encompassing 1.2 million net acres off the coast of Sabah, offshore Malaysia. A 3D seismic survey was acquired in 2022, and processing and evaluation of this data is currently ongoing.