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Upland Resources Ltd on Wednesday said that the planned technical workshop for the joint technical study on block SK334 onshore Sarawak in Malaysia was successful. The London-based oil and gas company with assets in Malaysia, Tunisia and the UK North Sea said the workshop was conducted with Sarawak’s state oil company Petroleum Sarawak Bhd, or Petros, in conjunction with Upland’s joint venture partner Big Oil Ventures Sdn Bhd on Thursday last week. The joint venture is called Upland Big Oil. Upland said the focus is now on on the production sharing contract phase with Petros. ‘To date progress on block SK334 has been excellent high-quality work on-time and on-budget. Continued engagement with the UBO team has demonstrated the value of their highly skilled team endowed with regional geological knowledge and a deep understanding of proven petroleum systems adjacent to block SK334,’ said Upland Technical Director Andrew Hurst. He added: ‘The most likely prospective areas of block SK334 have been identified, and an appropriate exploration strategy is in development. SK334 has the potential to have world class assets.’ Upland Resources shares were up 3.9% to 2.18 pence each on Wednesday morning in London. Copyright 2023 Alliance News Ltd. All Rights Reserved.
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