2009-08-17-2008-07-01-2008-07-01

Entered PSC in offshore license area SK 310 involving 1.2 million acres.

Newfield Exploration Co., Houston, (NYSE: NFX) has signed a new production-sharing contract in shallow water offshore Malaysia on license area SK 310. SK 310 involves nearly 1.2 million acres and is in about 300 feet of water offshore Sarawak. Newfield and its partners have committed to shoot new 3-D seismic data and to drill three exploration wells. Seismic acquisition is expected to commence later this year and drilling could begin in late 2009 or early 2010. Newfield is the operator of SK 310 with a 30% interest. Partners include Mitsubishi Corp. (30%) and Petronas Carigali Sdn. Bhd. (40%), the E&P subsidiary of Malaysia's state-owned Petroliam Nasional Berhad. Newfield entered Malaysia in 2004 and now has contracts covering three shallow-water blocks and one deepwater block totaling 2.9 million acres.