The mutual agreement to call off works at the Berantai field makes it the second RSC to be discontinued after Dialog Group Bhd ceased operations in its Balai marginal oilfield back in February.
PETALING JAYA: Malaysia’s first risk-service contract (RSC) ever awarded by national oil company Petroliam Nasional Bhd (Petronas) for the development of the Berantai marginal oil field has finally come to an end due to the low oil price environment that has made the venture uneconomical.
SapuraKencana Petroleum Bhd (SapKen) announced yesterday that the company, its partner Petrofac Energy Developments Sdn Bhd and Petronas had reached a mutual agreement with Petronas for the cessation of the Berantai RSC.
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