Sapura OMV Upstream (Sarawak) Inc. has put onstream the Jerun gasoline discipline in waters on the Malaysia facet of Borneo island.
Situated about 160 kilometers (99.4 miles) off the coast of Sarawak state, the event targets to ship 550 million cubic ft per day (MMcfpd).
SapuraOMV, which holds a 40 p.c stake as operator, found the Block SK408 discipline 2016 after a two-year drilling marketing campaign that opened up 9 wells. Petronas Carigali Sdn. Bhd., a subsidiary of Malaysia’s nationwide oil and gasoline firm Petroliam Nasional Bhd. (Petronas), and Sarawak Shell Bhd. personal 30 p.c every.
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TotalEnergies SE is ready to take over Block SK408. Earlier this yr the French power big introduced agreements with SapuraOMV’s house owners to take over the three way partnership.
“Including to the nation’s power portfolio, this mission guarantees vital contributions in the direction of sustaining Malaysia’s long run gasoline provide”, Malaysia Petroleum Administration (MPM) senior vp Bacho Pilong stated in a Petronas assertion in regards to the startup. MPM, below Petronas, is the upstream governing physique within the Southeast Asian nation.
Petronas awarded the manufacturing sharing contract for Block SK408 in 2012 to Newfield Malaysia, which later renamed Sapura E&P in 2014 following acquisition by Petaling, Selangor-based Sapura Vitality Bhd.
In 2014 in Block SK408, Sapura E&P made gasoline discoveries within the Bakong Teja, Gorek, Larak and Legundi fields, adopted by the Jerun and Jerimin discoveries a yr later. In 2018, Block SK408 yielded one other discovery, within the Pepulut discipline.
In 2019 SapuraOMV was born as a three way partnership between Sapura Vitality and Austria’s state-backed OMV AG. Additionally that yr Larak began manufacturing, adopted by Bakong and Gorek in 2020.
In 2021 SapuraOMV and its three way partnership companions took the ultimate funding determination for Jerun.
Jerun and the remainder of Block SK408 are set to have a brand new proprietor after OMV and Sapura Vitality signed agreements to divest every of their 50 p.c fairness stake in SapuraOMV to TotalEnergies.
TotalEnergies can pay OMV $903 million together with a $350 million mortgage that OMV had granted SapuraOMV, TotalEnegies introduced January 31. It stated then that the transaction’s closing was anticipated by the top of June 2024.
For Sapura Vitality’s stake, TotalEnergies can pay $530 million. “In 2023, SapuraOMV’s operated manufacturing (100%) was about 500 Mcf/d of pure gasoline, feeding the Bintulu LNG plant operated by Petronas, in addition to 7 kb/d of condensates”, TotalEnergies famous in a press launch April 22 saying the acquisition from Sapura Vitality. The completion of the transaction is anticipated within the second half of 2024.
Offshore Sarawak, in addition to Block SK408, SapuraOMV owns a 30 p.c operated stake in Block SK310.
Jerun is the second hydrocarbon mission in Malaysia introduced to have been put into manufacturing this yr.
To date in 2024, within the first quarter, the nation produced over two million barrels of oil equal per day (MMboepd), based on Petronas’ quarterly monetary report launched Could 31. The corporate’s complete manufacturing, together with shares from abroad belongings, stood at 2.6 MMboepd for the January–March quarter.
Petronas stated on the time it was anticipating to start out up the Kasawari gasoline discipline this yr.
To contact the writer, e mail jov.onsat@rigzone.com
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