October 25, 2020
Dateline TBA, Offshore Technology:
SK408 gas fields development project is located within the SK408 Production Sharing Contract (PSC) area, approximately 120km offshore Sarawak in Central Luconia Gas Province, Malaysia.
The project includes five natural gas and condensate fields, namely Gorek, Larak, Bakong, Teja, and Legundi.
The gas fields development project is being developed jointly by SapuraOMV Upstream (40%), Sarawak Shell Berhad (30%) and Petronas Carigali (30%). The phase one development of the SK408 project includes the commercialisation of the gas reserves from the Gorek, Bakong, and Larak fields.
The final investment decision (FID) on the development of the three fields under the first phase was made in April 2018.
October 12, 2020
Dateline 2020-09-03, Offshore:
SapuraOMV Upstream says production is now stable from its Bakong gas field offshore Sarawak, which came onstream in June.
Bakong is part of the same SK408 production-sharing contract (PSC) as the company’s operated Larak gas field, which entered production started last December, and the Shell-operated Gorek field which came online this May.
Phase 1 of the SK408 development is now fully onstream. Under a long-term agreement with Petronas, the PSC partners are exporting the gas to the Petronas LNG complex in Bintulu, Sarawak.
June 3, 2018
Dateline 2018-04-12, The Edge:
The long-awaited go-ahead for the development of three gas fields off Sarawak provided a huge boost to flagging Sapura Energy Bhd, with its market capitalisation boosted by more than half a billion ringgit as its share price rallied sharply yesterday.
Sapura Energy logged its largest single-day price gain since its listing six years ago to finish a fifth higher to 64.5 sen after it announced it was proceeding with the development of the Gorek, Larak and Bakong gas fields off Sarawak under phase one of the SK408 production sharing contract (PSC).
The PSC follows a final investment decision (FID) made after the fields development plan received Petroliam Nasional Bhd’s approval. Concurrently, the key terms of the gas sales agreement for the gas fields’ development have been agreed upon.
November 20, 2014
Dateline 2014-08-29, Oil & Gas Technology:
SapuraKencana Energy Sarawak (SKE), a wholly-owned subsidiary of SapuraKencana Petroleum, has made another gas discovery from Bakong-1, the fifth and final well in its 2014 drilling campaign within the SK408 Production Sharing Contract (PSC) area, offshore Malaysia
Bakong-1 is a significant discovery with a gross gas column in excess of 600 metres in the primary target reservoir within the Late Miocene Carbonates.
This discovery augments the earlier announced four well discoveries made on 9 June 2014 and completes the five well drilling programme slated for this year as part of the SK408 work campaign.
SKE is the operator with a 40 per cent working interest with partners Petronas (30 per cent) and Sarawak Shell (30 per cent) holding the remaining interest.
SK408 Block is located in shallow waters approximately 120 kilometres offshore Sarawak covering an area of approximately 4,480 square kilometres in the prolific Central Luconia Gas Province.