SIP Group diversified into Exploration and Production in 2006 with the vision to be a South East Asia regional E&P company. The Group has been directly involved in projects in India, Indonesia and Malaysia.
PETRONAS awarded Production Sharing Contracts (PSC) for Blocks SB 331 and SB 332 onshore Sabah to Sapura Energy, SIP and Petronas Carigali in November 2014.
The area of Blocks SB 331 and SB 332 are 13,114 km2 and 17,933 km2 respectively and they are located in the eastern part of Sabah.
The contract period is twenty seven (27) years commencing from 20th November 2014 which initially included a three year exploration period. Subsequently a two year extension was approved for the Exploration Period effective from November 20, 2017 to November 19, 2019.