Report summaryNewfield Exploration and Petronas Carigali were awarded the production sharing contract for Block PM323 on 15 June 2005. The block is located 300 kilometres offshore Terengganu in Peninsular Malaysia and contains three producing oil fields - West Belumut, East Belumut and Chermingat. In February 2014, Newfield Exploration completed the sale of its Malaysian interests, including its stake in PM323, to SapuraKencana Petroleum. Initial development work on Block PM323 targeted the East Belumut and Chermingat fields ...
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