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ConocoPhillips and Shell Secure Offshore Oil and Gas Acreage in Malaysia

Dec 09, 2024•over 1 year ago

Contract Type

partnership

HoustonOil And Gas

Description

ConocoPhillips and Shell, along with Petronas, have entered into production sharing contracts (PSCs) for offshore oil and gas acreage in Malaysia as part of the Malaysia Bid Round 2024. The PSCs encompass nine fields and one exploration block, representing a significant partnership in the exploration and development of oil and gas resources.

Company Information

Company

ConocoPhillips

Location

Houston, Texas, United States

About

Headquartered in Houston, Texas, ConocoPhillips had operations and activities in 15 countries, $85 billion of total assets, and approximately 10,100 employees at June 30, 2021. Production excluding Libya averaged 1,518 MBOED for the six months ended June 30, 2021, and proved reserves were 4.5 BBOE as of Dec. 31, 2020. For more information, go to www.conocophillips.com.

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Agreement Insights

Based on industry data
Strategic partnership established
Partnership agreements typically involve technology integration and joint go-to-market strategies
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Companies with recent agreements are 2.3x more likely to make additional purchases within 6 months

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