Wednesday, 20 July 2016 23:22
Written by Audrey Raj
Following the cessation of the Berantai field’s risk service contract (RSC) with the previous contractors, PETRONAS has appointed its wholly-owned unit, Vestigo Petroleum, to continue the operations and maintenance of the field.
Located about 150km offshore Malaysia, the Berantai field produced first gas in October 2012.
The field comprises a wellhead platform connected to the Berantai floating production storage and offloading vessel, which processes and exports gas to the neighbouring Angsi field via a 30km subsea pipeline before being exported onshore.
PETRONAS said the appointment of Vestigo is in line with its effort to extend the economic life of the field and maximize the long-term value of the asset.
Vestigo, which specialises in the development and production of small and marginal fields, currently also operates the Tembikai field under the Tembikai-Chenang cluster small field RSC, which achieved first oil in June 2015.
Last week, PETRONAS said it reached a mutual agreement with Petrofac Energy Developments and SapuraKencana Petroleum subsidiaries, Sapura Energy Ventures and Kencana Energy, for the cessation of the Berantai RSC.
The Berantai RSC was the first RSC awarded by PETRONAS to Petrofac and its two local partners on 31 January 2011. Participating interests in the Berantai RSC was in the portion of Sapura Energy 25%, Kencana Energy 25% and Petrofac Energy 50%.
With the cessation of the RSC, which will be effective on 30 September 2016, PETRONAS will reimburse all outstanding capital and operational expenditures to the contractors by June 2017, SapuraKencana said in a statement.