Release: PSC between Genting Oil Natuna and BPMIGAS

14/12/2004 ? Genting Oil & Gas Limited (GOGL), a subsidiary of Genting Berhad, is pleased to announce that its wholly-owned subsidiary Genting Oil Natuna Pte. Ltd. (GONPL) has signed a 30-year Production Sharing Contract (PSC) with BPMIGAS on 12th December 2004 for the Northwest Natuna Block in West Natuna, Indonesia.

GONPL will operate and hold a 100 percent interest in the Northwest Natuna PSC. The work programme for the first three years of the exploration period will include the acquisition of new 3D seismic data and the drilling of one exploration well.

The Northwest Natuna Block covers an area of over 2,300 square kilometers and is located within an oil and gas-prone area immediately to the north of the producing Anoa oil and gas field. A pipeline supplying gas to Singapore originates at the Anoa Field some 7 kilometers to the south of the Northwest Natuna Block.

GOGL is pleased to be able to undertake further exploration activities in Indonesia following the signing of the Anambas PSC with another wholly-owned subsidiary, Sanyen Oil & Gas Ltd, in June 2004. (end of release)