We are pleased to share that Skrine acted for South Korea’s largest trading company POSCO International Corporation in respect of its entry into a Production Sharing Contract with PETRONAS and PETRONAS Carigali in respect of Block PM546, Offshore Peninsular Malaysia.

This transaction marks POSCO’s maiden investment into the Malaysian upstream oil & gas sector and see POSCO take an 80% participating interest as well as operatorship in the PSC.
 
The Skrine deal team was led by Skrine’s Oil & Gas practice head, Fariz Abdul Aziz who was supported by Senior Associate Tan Wei Xian.

Media coverage of the transaction can be accessed at:
 
https://www.theedgemarkets.com/article/petronas-awards-contract-posco-international-petronas-carigali

https://www.thestar.com.my/business/business-news/2021/11/01/petronas-awards-psc-contract-to-posco-petronas-carigali