UOB Kay Hian Research analyst Kong Ho Meng said while there have not been any large tenders awarded by Petroliam Nasional Bhd (Petronas), it expected contracts to be rolled out from next year. In Malaysia, he said, about 11% or about 35 of the over 300 platforms have been operating for over 40 years, and more than 200 wells have already been identified to be plugged and abandoned.
PETALING JAYA: Petroliam Nasional Bhd (Petronas), which has a 25% stake in the C$40bil (RM123bil) LNG Canada project, has been curtailing production by between 50 and 200 million cubic feet per day (cf/d) due to low liquified natural gas (LNG) prices.
According to a report by The Canadian Press, the wells in northeastern British Columbia are capable of producing 700 million cf/d of LNG.
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