Under the terms of the agreement, Total will operate the block alongside its partner Petronas Carigali holding the remaining 15% interest.
The Block SK317B is located around 100km offshore Sarawak, in water depths ranging from 200m to 1,000m, and it covers an area of more than 700sq km.
The work commitments during the exploration period encompass seismic data acquisition and deep offshore exploration drilling.
Total Exploration & Production Asia Pacific senior vice president Jean-Marie Guillermou said that with this acquisition, Total will expand its exploration acreages in new areas or on new themes while developing its partnerships with national oil companies such as Petronas.
