KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) said its unit Vestigo Petroleum Sdn Bhd will continue to operate and maintain the Berantai field, offshore Terengganu, on the national oil company’s behalf following the cessation of the Berantai risk service contract (RSC) effective Sept 30.
Last week, SapuraKencana Petroleum Bhd (SapKen) announced to Bursa Malaysia that its wholly-owned subsidiaries Sapura Energy
Ventures Sdn Bhd and Kencana Energy Sdn Bhd, and their partner Petrofac Energy Developments Sdn Bhd had reached a mutual agreement with Petronas to cease the Berantai RSC, the first RSC awarded by Petronas.
In a media statement today (Wednesday), Petronas said the appointment of Vestigo was in line with the company’s effort to extend the economic life of the field and maximise the long-term value of the asset.
Located about 150km offshore Peninsular Malaysia, the Berantai field produced first gas in October 2012. The field comprises a wellhead platform connected to a floating production storage and offloading (FPSO) vessel, the Berantai FPSO, which processes and exports gas to the neighboring Angsi field via a 30km subsea pipeline before being exported onshore.
Vestigo, which specialises in the development and production of small and marginal fields, was set up in 2013 and currently also operates the Tembikai field, offshore Terengganu, under the Tembikai-Chenang Cluster Small Field RSC, which achieved first oil in June 2015.
The Berantai RSC was signed on Jan 31, 2011. Prior to the RSC cessation, participating interests in the Berantai RSC were held 25% by Sapura Energy Ventures, 25% by Kencana Energy Sdn Bhd and 50% by Petrofac Energy Developments.
Last week, SapuraKencana Petroleum Bhd (SapKen) announced to Bursa Malaysia that its wholly-owned subsidiaries Sapura Energy
Ventures Sdn Bhd and Kencana Energy Sdn Bhd, and their partner Petrofac Energy Developments Sdn Bhd had reached a mutual agreement with Petronas to cease the Berantai RSC, the first RSC awarded by Petronas.In a media statement today (Wednesday), Petronas said the appointment of Vestigo was in line with the company’s effort to extend the economic life of the field and maximise the long-term value of the asset.
Located about 150km offshore Peninsular Malaysia, the Berantai field produced first gas in October 2012. The field comprises a wellhead platform connected to a floating production storage and offloading (FPSO) vessel, the Berantai FPSO, which processes and exports gas to the neighboring Angsi field via a 30km subsea pipeline before being exported onshore.
Vestigo, which specialises in the development and production of small and marginal fields, was set up in 2013 and currently also operates the Tembikai field, offshore Terengganu, under the Tembikai-Chenang Cluster Small Field RSC, which achieved first oil in June 2015.
The Berantai RSC was signed on Jan 31, 2011. Prior to the RSC cessation, participating interests in the Berantai RSC were held 25% by Sapura Energy Ventures, 25% by Kencana Energy Sdn Bhd and 50% by Petrofac Energy Developments.
Petronas began getting directly involved in the development of marginal oilfields with the establishment of Vestigo Sdn Bhd, in 2013.
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