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Petronas slightly increases oil hydrocarbon production

Oil&Gas Materials 27 November 2019 14:25
Petronas slightly increases oil hydrocarbon production

BAKU, Azerbaijan, Nov.27

By Leman Zeynalova – Trend:

Total production volume of Malaysia’s Petronas company for the first nine months of 2019 was 2,328 thousand barrels of oil equivalent (boe) per day, slightly higher than the 2,313 thousand boe per day in the same period in 2018, Trend reports citing the company.

As Petronas said in its report on the first nine months of this year, the increase is mainly attributable to higher natural gas production, partially offset by lower liquid production from Malaysia.

Petronas said a total of twenty one projects have achieved first hydrocarbon, adding 79 thousand boe per day of new production to-date, comprising nineteen brownfields in Peninsular Malaysia, Sarawak, Iraq, Myanmar and South Sudan, as well as one greenfield in Sarawak and one unconventional project in Argentina.

The company has made seven exploration discoveries during the period - five in Malaysia and two internationally in Indonesia and Egypt, including one significant gas discovery in SK410B Lang Lebah field, offshore Sarawak. “In Malaysia, four PSCs were inked in total - PM407, PM415 and PM419 offshore Peninsular Malaysia as well as SB Block 3K offshore Sabah.”

Thirty three projects of the company achieved Final Investment Decision (FID) including the Kasawari major gas development project offshore Sarawak, which comprised 27 projects in Malaysia and six projects internationally.

“Six new Production Sharing Contracts (PSCs) were inked in the first nine months of this year; four in Malaysia and two in Gabon, in addition to the acquisitions of 2 offshore blocks in Egypt,” said the company.

Established in 1974, Petroliam Nasional Berhad (PETRONAS) is Malaysia’s fully integrated oil and gas multinational company.

The company’s fully integrated value chain spans from exploration to marketing, logistics to technological infrastructures, with operations in over 50 countries.

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