Petronas Awards Kebabangan Cluster PSC

abarrelfullabarrelfull wrote on 29 Dec 2012 20:03

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PETRONAS today signed a Production Sharing Contract (PSC) with Shell Energy Asia Limited, ConocoPhillips Sabah Gas Ltd and PETRONAS Carigali Sdn Bhd for the exploration, development and production of natural gas from the Kebabangan Cluster fields, offshore Sabah.

The gas fields in the Kebabangan Cluster — comprising the Kebabangan, Kamunsu East, Kamunsu East Upthrown and Kamunsu East Upthrown Canyon — are located about 130 kilometres offshore Sabah.

Under the terms of the PSC, PETRONAS Carigali, the exploration and production arm of PETRONAS, has a 40 per cent interest in the PSC, while Shell Energy Asia Limited and ConocoPhillips have a 30 per cent stake each. A joint operating company, Kebabangan Petroleum Operating Company Sdn Bhd, has been formed to operate the venture on behalf of the partners.

The natural gas produced from the Kebabangan Cluster fields is expected to be evacuated via pipelines to the Sabah Oil and Gas Terminal, which is currently under construction.

At the PSC signing ceremony held at the PETRONAS Twin Towers in Kuala Lumpur today, PETRONAS was represented by its Vice President for Exploration & Production Business, Encik Ramlan A. Malek, Shell Energy Asia Limited by Executive Vice President (New Business) Asia Pacific of Shell Exploration and Production, Mr. Ding Chung Nyea, ConocoPhillips Sabah Gas Ltd by its President Mr. Mark G. Wheeler and PETRONAS Carigali by its Managing Director/CEO Datuk Abdullah Karim.

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