PETALING JAYA: US oil major ConocoPhillips has confirmed it will not proceed with the RM13.7bil Salam-Patawali deepwater oil and gas project, also known as WL4-00, off the coast of Sarawak.
“ConocoPhillips has elected not to progress development of the WL4-00 project based solely on prioritisation within the company’s global portfolio,” it said in a statement.
The deepwater oil and gas field, discovered jointly with Petroliam Nasional Bhd or PETRONAS in 2018, was developed under a 50:50 joint venture.
According to its website, ConocoPhillips Sarawak Ltd holds a 50% working interest and is the operator of Block WL4-00, which spans 0.3 million net acres, primarily covering the Salam and Benum fields.
Earlier, Channel News Asia reported that ConocoPhillips had quietly exited the project this month.
