Petronas invests RM3.5bil for gas project offshore Sarawak

PETRONAS Head of Technology Divison Technical Global Upstream Malaysia Dr Nasir Daman Briefing on PETRONAS€™ Development Plan for K5 Field, World€™s highest CO2 Concentration Gas Development Project.

KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) is expected to spend US$500mil (RM1.74bil) to US$1bil (RM3.5bil) to develop Phase 1 of the K5 field offshore Sarawak, which is poised to be the world’s highest carbon dioxide concentration gas development project.

“Phase 1 of K5 is similar to a pilot project to test a technology that has never been used before to unlock opportunities not only in K5 but other recoverable hydrocarbon reserves around the world of about 910 trillion cubic feet (tcf).