Mubadala Progresses on Pegaga Field After Sanction
Mubadala Petroleum, Petronas, and Royal Dutch Shell have reached final investment decision (FID) for the Pegaga gas field development. The three companies will partner to spend more than $1 billion developing the project, which will now proceed to the construction and installation stage.
Pegaga is located at about 108 m water depth in Block SK 320 offshore the East Malaysian state of Sarawak. The development consists of an integrated central processing platform (ICPP) with an eight-legged jacket. The facility is designed for gas throughput of 550 million scf/D of gas plus condensate. The produced fluids will be transferred through a new 38-in. subsea pipeline tying in to an existing offshore network and subsequently to the onshore Malaysia liquefied natural gas (LNG) plant in Bintulu. Mubadala said in a statement that the first gas is expected in 3Q 2021.
The development is Mubadala’s first development in Malaysia. It has assets in eight countries with a primary focus on the Middle East (Qatar, UAE, Oman) and Southeast Asia (Thailand, Vietnam, Indonesia, Malaysia). The company produced 320,000 BOPD across its assets.
Mubadala is the operator of SK 320 with a 55% working interest. Petronas holds 25% and Shell holds 20%.
In addition, Mubadala awarded an engineering, procurement, construction, and commissioning (EPCIC) contract to Sapura Energy, Malaysia’s largest oil and gas services company. Sapura said in a statement that it has already won approximately $765 million in contracts so far in 2018.
Pegaga is one of several developments expected in the area in the next couple of years. Rystad Energy predicted that the field will be the largest regional individual field FID of 2018 in its Southeast Asia 2018–2020 FID Forecast. Rystad estimates that 50 oil and gas fields will likely be approved for development over the next 3 years, requiring $28 billion of capital expenditure from FID to first production.
Alaska LNG Project Seeks Investors
The Alaska Gasline Development Corp., a state-owned corporation, is preparing an equity offering for this summer for its $43-billion LNG project. BP agreed to sell natural gas from Prudhoe Bay for export to Asia-Pacific.
New Regulations To Fast-Track Brazil FPSO Deployment, Boost Presalt Oil Production
New local content regulations could speed up the pace of presalt oil production by more than 21 billion bbl by the mid-2020s. Karoon and Parnaíba Gás Natural are the first companies to apply to change their contract terms. Petrobras, Shell, BP, ExxonMobil, Petrogal, and Anadarko are also interested.
McDermott Makes Headway With New Projects
The engineering and construction company announced that it had achieved a pair of milestones for BP’s Angelin and Pemex’s Abkatun-A2 platforms, both of which are scheduled for delivery within the next two fiscal quarters.
Don't miss out on the latest technology delivered to your email every two weeks. Sign up for the OGF newsletter. If you are not logged in, you will receive a confirmation email that you will need to click on to confirm you want to receive the newsletter.
03 July 2018
20 June 2018
25 June 2018
21 June 2018