11 June 2014

Petronas Awards Small Field RSC to Ophir Production

PETRONAS has awarded a Small Field Risk Service Contract (SFRSC) to Ophir Production Sdn Bhd (Ophir Production) for the development and production of petroleum from the Ophir field, located offshore Peninsular Malaysia.

Ophir Production is a joint venture company between Octanex Pte Ltd, Scomi D&P Sdn Bhd and VESTIGO Petroleum Sdn Bhd.

Australia-based Octanex has an extensive portfolio of offshore acreages in Australia and New Zealand and has recently expanded its upstream activities to Malaysia. Scomi D&P is a subsidiary of Scomi Energy Services Bhd while VESTIGO Petroleum is a subsidiary of PETRONAS Carigali Sdn Bhd engaged in development and production activities from small and mature fields.

Under the terms of the contract, PETRONAS is the project owner while Ophir Production is the contractor.

The SFRSC was signed in Kuala Lumpur today where PETRONAS was represented by its Vice President of Malaysia Petroleum Management Adif Zulkifli while Ophir Production was represented by its Director Shah Hakim @ Shahzanim Zain.

“This SFRSC will see PETRONAS and Ophir Production conduct development and production works at the Ophir field. The first hydrocarbon from the Ophir field is expected to be within 18 months from today,” said Adif.

PETRONAS has awarded five RSCs to date: the Berantai field to Petrofac and Sapura Kencana Petroleum Bhd in January 2011; the Balai-Bentara cluster offshore Sarawak to a consortium comprising Roc Oil Malaysia (Holdings) Sdn Bhd, Dialog Group Bhd and PETRONAS Carigali in August 2011; the Kapal, Banang and Meranti cluster to Coastal Energy KBM Sdn Bhd in June 2012; the Tembikai-Chenang cluster to VESTIGO Petroleum in October 2013; and the Tanjong Baram field to EQ Petroleum Developments Malaysia Sdn Bhd and Uzma Energy Venture (Sarawak) Sdn Bhd in March 2014.

To date, two out of these five RSCs, namely the Berantai RSC and the KBM RSC, have been successfully put on-stream respectively on 29 October 2012 and 16 December 2013. Works are ongoing to bring production from the Balai Cluster RSC by end of Q2 of 2014. Subsurface studies are progressing well to ensure that development commitments for the other two RSCs are delivered on schedule. – Petronas