Malaysian oil company Petroliam Nasional Bhd (Petronas) and its US-based partner Hess Corp realized the first natural gas production in the Phase 3 project. An estimated gross recoverable 1.5 trillion cubic feet of gas is expected to be obtained from the 10 natural gas fields in the project.
Petroliam Nasional Bhd (Petronas) and its US-based joint venture (JV) partner Hess Corp on Monday (September 26th) in Peninsular Malaysia were recently released on Block PM302, 290 kilometers offshore, in the Northern Malay Basin (NMB), according to the national oil company. It realized the first gas production in the Phase 3 project. “Block PM302 is operated by Hess Corp subsidiary Hess Exploration and Production Malaysia BV with a 50% stake, jointly with Petronas Carigali Sdn Bhd, which owns the remaining 50%,” Petronas said in a statement. said.
About the NMB Phase 3 project, which was approved in 2019, Petronas said, “It includes the installation of the new Bergading-B Wellhead Platform, which adds 100 million cubic feet per day (MMscfd) of natural gas supply from Block PM302 and brings total production to 400 MMscfd.” used the phrases.
Mohamed Firouz Asnan, Senior Vice President of Petronas Malaysia Petroleum Management (MPM), said that Hess Corp and Petronas continue to develop the NMB project to unlock its full potential.
Also, Asnan said, “This is an important milestone for both partners, as the NMB Phase 3 project is the key to sustaining gas supply to Peninsular Malaysia amid growing demand. Close cooperation between Block PM302 parties and service providers to overcome challenges during the pandemic, Malaysia This successful completion has driven the overall resilience of the upstream ecosystem.” said.
1.5 trillion cubic feet of natural gas
The NMB project, consisting of blocks PM302 and PM325, has a long-lived natural gas asset consisting of 10 discovered natural gas fields with an estimated gross recoverable resource of 1.5 trillion cubic feet of natural gas and more than 20 million barrels of condensate.
The Kangsar gas field, located off Peninsular Malaysia, was discovered in 2018. It is also part of the recently approved NMB Phase 4A development, with the first gas targeted in the third quarter of 2022. As for the development of the field, Hess Malaysia and Petronas Carigali signed an agreement title to merge last year.
Petronas is the custodian of oil resources in Malaysia through MPM. With this mandate, MPM manages oil regulations in Malaysia and provides management of exploration and production activities in the country.
Source: Star Newspaper
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