Petronas cuts cost with new vessels

Datuk Abdullah Karim chair press conference about Petronas Floating LNG1.next are Colin Wong.

KUALA LUMPUR: Petroliam Nasional Bhd (Petronas), which is building two floating liquefied natural gas (FLNG) facilities, said the new vessels would lower the production cost of smaller gas fields.

“With the Petronas FLNG 1 (PFLNG 1), we are looking at US$500mil (RM1.85bil) cost saving for a marginal gas producing field,” said Petronas vice-president and venture director LNG project (domestic) Datuk Abdullah Karim (pic).