Petronas accelerating efforts to enhance production of oil and gas for M’sia


Dateline 2011-11-16:

THE excitement in the oil and gas (O&G) sector just gets better, with oil giants Petroliam Nasional Bhd (Petronas) and Royal Dutch Shell plc joining forces to further develop oilfields in Malaysia using the enhanced oil recovery (EOR) technology.

The duo had last week signed a heads of agreement for two 30-year production-sharing contracts (PSCs), which would entail a total investment of US$12bil (RM37.8bil), for projects using the EOR technology a technique to boost the extraction of crude oil and natural gas from existing fields off Sabah and Sarawak.

Involving four oilfields in the North Sabah area and nine in the Baram Delta off Sarawak, the EOR projects on a combined basis could be the biggest in the world in an offshore environment.

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This entry was posted on Thursday, December 1st, 2011 at 6:00 am and is filed under engineering, Malaysia, oil and gas. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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