Senior vice president of Malaysia Petroleum Management (MPM) Mohamed Firouz Asnan, who signed the production-sharing contract (PSC) on behalf of Petronas said that "we welcome SK earthon to Malaysia's upstream industry and as a new player, they bring vast experience in exploration and production, garnered from their worldwide exploration activities. Petronas will also collaborate with SK earthon in the carbon capture and storage (CCS) sector, in line with Petronas' aspiration to achieve Net Zero Carbon Emissions by 2050." "SK427 PSC is one of the six blocks awarded from the Malaysia Bid Round (MBR) 2021, demonstrating Malaysia's potential as an attractive investment destination for companies seeking to grow their energy portfolio and thrive in the energy transition. Under our 'right asset, right player' strategy supported by a progressive fiscal regime, we hope to fully maximise the long-term value of the nation's hydrocarbon resources," he added.