Kuching in Sarawak, Malaysia
Upstream independent forms Malaysian JV
Upland Resources is seeking opportunities near Brunei
London-listed independent Upland Resources and Malaysian consultancy Big Oil Ventures have agreed terms to form a new joint venture, called Upland Big Oil, to develop upstream assets in Sarawak, Malaysia. The companies will fund a joint technical study to examine and “de-risk” block SK334. An agreement to carry out the survey is already in place with Petroleum Sarawak, the provincial oil company owned by the Sarawak state government. The studies are due to be complete by the end of 2023. The SK334 block is located onshore in northern Sarawak and borders producing oilfields in Brunei. “Oil production in this sedimentary basin has occurred for many decades,” notes Upland, citing Brunei's Seria
Also in this section
24 January 2025
Domestic companies in Nigeria and other African jurisdictions are buying assets from existing majors they view as more likely to deliver production upside under their stewardship
23 January 2025
The end of transit, though widely anticipated, leaves Europe paying a third more for gas than a year ago and greatly exposed to supply shocks
23 January 2025
The country’s government and E&P companies are leaving no stone unturned in their quest to increase domestic crude output as BP–ONGC tie-up leads the way
22 January 2025
The return of Donald Trump gives further evidence of ‘big oil’ as an investable asset, with the only question being whether anyone is really surprised
