Rex enters Malaysian game with two PSCs
KUALA LUMPUR, August 31, 2021 – Singaporean holding company Rex International has signed two PSCs with Petronas for two small fields, the Malaysian NOC said on Monday.
Rex International will operate the Rhu-Ara and Diwangsa offshore fields through a joint venture with Malaysia’s Duta Marine, with the latter company holding a 5% stake.
The Rhu-Ara cluster has estimated recoverable reserves of 12.7 million barrels of oil, and the Diwangsa cluster is expected to hold 10.7 million barrels of oil.
The two fields were bid on during Malaysia Bid Round 2000.