Rex International Engages Manated Arranger of Financing for Malaysia Assets

Source: www.gulfoilandgas.com 7/4/2022, Location: Asia

Rex International Holding Limited wishes to announce that its wholly owned subsidiary Pantai Rhu Energy Sdn Bhd (“PRE”) has engaged the Carlingford division of GFI Securities Limited (“Carlingford”) as its exclusive mandated arranger of financing for the development of the Rhu-Ara Cluster and the Diwangsa Cluster (the “Clusters”) located in offshore Peninsular Malaysia, in which the Rex Group holds 95 per cent interests and operatorship.

The Rhu-Ara Cluster, consisting of the Rhu and Ara fields, lies within the Penyu Basin 150 km off the coast of oil centre Kerteh, Terengganu. The Diwangsa Cluster, which lies in the northwestern side of the Malay Basin, comprises the Diwangsa, Bubu, Korbu and Lerek fields. According to PETRONAS, these previously discovered fields have total estimated recoverables of 12.7 MMstb for the Rhu-Ara Cluster and 10.7 MMstb for the Diwangsa Cluster*.

More details of development plans for Clusters will be shared in due course.


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