Sarawak SK334

Flagship opportunity

The Joint Technical Study Agreement for Block SK334 represents a significant event for the Upland.

We believe that the outcome of the Joint Technical Study will give Upland an advantage for the subsequent stages in Block SK334.

On the 1st of September 2022 Upland Resources (Sarawak) Sdn Bhd (a wholly owned subsidiary of Upland), Big Oil Ventures Sdn Bhd (“BOV”) and Petroleum Sarawak Berhad (“PETROS”) have signed a Joint Technical Study Agreement (the “Agreement”) to carry out a joint technical study on Block SK334.

The study will be carried out jointly by Upland Resources (Sarawak) Sdn Bhd and BOV covering Block SK334 which has a size of approximately 6,685 sq km, located in the northern region of Onshore Sarawak, Malaysia.

The main objectives of the joint technical study under the Agreement are to de-risk the petroleum system elements and to upgrade the understanding on the prospectivity in Block SK334, especially to:

  • Assess hydrocarbon potential of Block SK334; delineate prospective areas, and identify leads and prospects in the Study Area
  • Recommend and design new seismic acquisition requirements and/or identify any other feasible exploration tools for future de-risking activities.

Initial kick off meeting ahead of our first workshop on the 18th of October.

Block SK334 in Sarawak is in a proven sedimentary basin, bordering discovered oil fields in Brunei that share similar geological settings.