Exxon Affiliate Begins Oil Production From Raya A Oil Platform

abarrelfullabarrelfull wrote on 09 Mar 2015 09:14

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July 10th 1998

Exxon Corporation (NYSE: XON) announced today that its affiliate Esso Production Malaysia Inc. (EPMI) has begun production from the Raya A oil platform located 165 miles off the coast of Terengganu, Peninsular Malaysia. Seven dual production wells are expected to be drilled from Raya A, with a forecast peak production rate of 24,000 barrels of oil per day, anticipated in 1999.

The initial well was brought on stream in early June, marking the first oil production from the PM8 area. The PM8 Production Sharing Contract (PSC) was signed in June 1988 and covers 2.5 million acres to the north of EPMI's original 1976 PSC area.

EPMI, as operator, is developing the Raya field on behalf of the PM8 parties (PETRONAS, EPMI, and PETRONAS Carigali Sdn Bhd (PCSB)). EPMI has an 80 percent equity share in the PM8 PSC. Production from Raya A is transported via a 16-inch pipeline to the Seligi A platform, where crude oil and gas will be metered prior to joining the Seligi production to the Tapis gathering system.

EPMI is a major crude oil producer in Malaysia, with daily production exceeding 300,000 barrels. It is also a major supplier of natural gas to Peninsular Malaysia, with production in excess of 900 million standard cubic
feet of gas per day. EPMI has PSCs with PETRONAS in five areas offshore Terengganu, Peninsular Malaysia (PM8, PM5, the 1976 PSC and the 1995 PSC areas, and the Gas PSC) and currently operates 30 platforms in 11 fields.

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