Petronas: ‘Marginal’ Cendor field now one of biggest oilfields in Malaysia

Published: Thursday May 2, 2013 MYT 12:39:00 PM by The Star

KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) has transformed the Cendor field offshore Peninsular Malaysia from a marginal field to one of the biggest oilfields in the country.

Petronas announced on Thursday the successful drilling of Cendor Graben-2 appraisal well within Block PM304 offshore Peninsula Malaysia.

“The well was drilled to a depth of over 1,000 metres and confirmed the presence of oil and some gas-bearing reservoirs,” it said.

Petronas added the drilling was undertaken by Petrofac (Malaysia PM304) Ltd, the operator for Block PM304, together with partners Petronas Carigali Sdn Bhd, Kuwait Foreign Petroleum Exploration Company and PetroVietnam Exploration Production Corporation Ltd.

To recap, the Cendor field was discovered by Amerada Hess in 2001 and it was initially regarded as marginal with estimated recoverable resources of 12 million barrels (MMstb) of oil and was deemed too risky and uneconomical for development.

However, in May 2004, Petrofac acquired Amerada Hess’ interest and assumed operatorship of Block PM304.

“Driven by Petronas’ strategy to grow resources, production and value, aggressive appraisal and development campaign was undertaken which led to the monetisation of this once marginal field.

“The efforts undertaken successfully transformed Cendor from a field deemed marginal to one of the biggest oilfields in Malaysia,” it said.

http://biz.thestar.com.my/news/story.asp?file=/2013/5/2/business/20130502124138&sec=business

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About artidj

I started working as a field engineer in Oil & Gas industry back in 1996. I do this news clipping of the industry and the geography I am interested in, mainly for my own information. I'm glad you find it useful.
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