Gas Production Commences at B15 Field Offshore Sarawak

May 26, 2018

Dateline 2018-03-22, Rigzone:

Sapura Exploration and Production (Sarawak) Inc. (Sapura E&P) announced Thursday that it has commenced gas production at the B15 field, located within the SK310 production sharing contract (PSC) area offshore Sarawak in East Malaysia. Output figures for the field were not revealed.

Discovered in December 2010, the B15 gas field achieved the milestone within two years of the sanction of its field development plan.

The B15 development comprises a processing platform with a 21-mile pipeline tied into existing infrastructure for onwards transmission into the Malaysia Liquefied Natural Gas (MLNG) complex at Bintulu, Sarawak.

“This milestone achievement at B15 was achieved on schedule and within budget,” Tan Sri Dato’ Seri Shahril Shamsuddin, president and group CEO of Sapura Energy Berhad, which owns Sapura E&P, said in a company statement.

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SapuraEnergy: B15 offshore field on track for first gas in 4Q 2017

August 25, 2017

Dateline 2017-07-27, Upstreamonline:

Malaysia’s Sapura Energy, formerly known as Sapura Kencana, is working towards bringing online its offshore gas field in East Malaysia.

The company on Monday said the SK 310 B15 field development was on track, with first gas expected in the fourth quarter of 2017, in line with its previous statements.

SapuraKencana’s subsidiary, SapuraKencana Energy Sarawak (SKE), is the operator of Block SK310 PSC which was awarded by Petronas on June 17, 2008.

SapuraEnergy is the operator of the SK310 PSC with a 30% participating interest and partners Petronas Carigali with 40% and Diamond Energy Sarawak, a subsidiary of Mitsubishi Corporation with 30%.

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SapuraKencana Inks Deal to Sell Gas from Malaysia’s B15 Field to PETRONAS

August 6, 2016

Dateline 2016-06-27, Rigzone:

SapuraKencana Petroleum Berhad (SKPB) reported Monday that its upstream subsidiary SapuraKencana Energy Sarawak Inc. (SKE) has signed June 23 the SK310 Upstream Gas Sales Agreement for gas produced from the B15 field located offshore East Malaysia to national oil company Petroliam Nasional Berhad (PETRONAS).

Facilities for the B15 gas development comprise a central processing platform with a 22 mile (35 kilometer) gas evacuation pipeline to be tied into the existing infrastructure. The field, which was discovered in December 2010 and will deliver gas to the Malaysia Liquefied Natural Gas (MLNG) complex in Bintulu, Sarawak, is scheduled to commence production in the fourth quarter of 2017.

“I would like to thank PETRONAS and the SK310 JV (joint venture) partners for their efforts in getting the project to realization. The SK310 UGSA marks SKE’s first participation in a Gas Sales Agreement for East Malaysia,” Shahril Shamsuddin, president & Group CEO of SKPB, said in the press release.

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SapuraKencana’s gas venture gets off the ground

December 27, 2015

Dateline 2015-11-25 , The Edge:

LAST Wednesday, oil and gas outfit SapuraKencana Petroleum Bhd announced that it had received the green light from Petroliam Nasional Bhd (Petronas) for a field development plan (FDP) for the SK310 B15 gas project off Sarawak.

Shahril: We will have clear visibility of the cash flow once the development of these discoveries commences

The announcement, however, did not have the expected impact on the stock, which shed seven sen to close at RM2.19 last Thursday.

Naturally, SapuraKencana will not see any contribution from the development of the gas field in the near term, but it is likely to become a fresh recurring income source for the group in two years.

The share price had in fact rebounded from a historical low of RM1.47 recorded on Aug 25, gaining more than 50% — that is  until last Thursday — possibly buoyed by the impending news of the FDP.

President and CEO Tan Sri Shahril Shamsuddin tells The Edge: “This is a significant milestone as we will begin the monetisation of the seven gas discoveries we have to date off Sarawak. First gas is expected to flow in the final quarter of 2017 and we will see healthy cash contributions over the life of this development.

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