Petronas and ExxonMobil signed a $2.1 billion expl

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Petronas and ExxonMobil signed a US $2.1 billion exploration agreement

according to Dow Jones Kuala Lumpur on June 3, Petronas, a Malaysian national oil company, said on Wednesday that the company has signed a production sharing contract with the exploration and production company of the ball screw of ExxonMobil's electronic universal experimental machine based on the force measurement range of the experimental machine, and the two sides will jointly develop seven offshore oil fields in Malaysia. These seven oilfields include seligi, guntang, Tapis, semangkok, irong Barat, tabu and Palas offshore oilfields

according to the agreement, ExxonMobil exploration and production company and Petronas carigali Sdn. BH, an upstream subsidiary of Petronas, and working together, D will commit to invest at least US $100million in the development of these oil fields driven by electromechanical drives

petronas said that the main goal of both parties is to pump more crude oil from these mature oilfields through the implementation of enhanced oil recovery (EOR) projects

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