Idemitsu acquires rights to two offshore oil and gas blocks in Malaysia

Idemitsu Kosan acquired a 40% interest in two offshore exploration blocks — Block SK427 and the Ketapu Cluster — located off the coast of Sarawak, Malaysia. The rights were obtained from SK earthon, and a Production Sharing Contract (PSC) was signed between PETRONAS, Petroleum Sarawak Exploration and Production, SK earthon and Idemitsu.

Block SK427 covers approximately 3,324 sq km, while the Ketapu Cluster spans about 27 sq km. Both areas lie in shallow waters ranging from 10 to 50 m in depth. For each block, SK earthon holds a 45% operating stake, PSEP holds 15%, and Idemitsu owns 40%. The partnership structure and exploration plans are identical across both blocks.