INPEX CORPORATION (INPEX) announced that it has jointly been awarded Block SK510 as part of Malaysia Bid Round 2023 launched by Malaysia Petroleum Management (“MPM”), Petroliam Nasional Berhad (PETRONAS) (“PETRONAS”) as the custodian of the country’s hydrocarbon resources.

In association with this, INPEX through its subsidiary, INPEX Malaysia E&P SK510 Sdn. Bhd. (INPEX) signed a Production Sharing Contract (PSC) with PETRONAS, PETRONAS Carigali Sdn. Bhd. (PCSB), PT Pertamina Malaysia Eksplorasi Produksi (“PMEP”) and Petroleum Sarawak Exploration & Production Sdn. Bhd. (“PSEP”). Block SK510 is an offshore hydrocarbon exploration block located off the coast of Sarawak, offshore Malaysia.

Block SK510 is the third exploration block awarded to INPEX in Malaysia following two exploration blocks awarded to the company in February 2023, being the 4E and SK418. The newly acquired block SK510 is expected to contribute to INPEX’s business shift to natural gas as outlined in INPEX Vision @2022 announced in February 2022 as well as expand the company’s operations in Southeast Asia, one of its core business areas. INPEX is committed to further strengthening its business in Malaysia and will continue to actively engage in this effort.

About INPEX

INPEX CORPORATION is Japan’s largest exploration and production (E&P) company, and is currently involved in projects across multiple continents, including the Ichthys LNG Project in Australia as Operator. By thoroughly making its oil and gas business cleaner while expanding its 5 net zero business areas, INPEX aims to provide a stable supply of diverse and clean energy sources including oil, natural gas, hydrogen and renewables as a pioneer in energy transformation.