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.
March 20, 2020
Dateline 2020-01-15, Energy Industry:
SapuraOMV Upstream announced first production following the start-up at the end of December, 2019 from its Larak gas field under the SK408 Production Sharing Contract (PSC), which was delivered within budget. The SK408 gas fields are part of discoveries made by SapuraOMV Upstream in a drilling campaign in 2014. The fields are tied back into an existing processing facility and gas is transported through existing pipelines for onward gas processing at PETRONAS LNG complex in Bintulu.
March 18, 2020
Dateline 2020-01-13, Rigzone (what happened to their paywall?):
SapuraOMV Upstream has achieved within budget first production from its Larak gas field offshore Malaysia under the SK408 Production Sharing Contract (PSC).
The SK408 gas fields are part of discoveries made by SapuraOMV in a drilling campaign in 2014. They are tied back to an existing processing facility and gas is transported through existing pipelines for onward gas processing at Petronas LNG complex in Bintulu.
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.