SapuraKencana Inks Deal to Sell Gas from Malaysia's B15 Field to PETRONAS

SapuraKencana Petroleum Berhad (SKPB) reported Monday that its upstream subsidiary SapuraKencana Energy Sarawak Inc. (SKE) has signed June 23 the SK310 Upstream Gas Sales Agreement for gas produced from the B15 field located offshore East Malaysia to national oil company Petroliam Nasional Berhad (PETRONAS).

Facilities for the B15 gas development comprise a central processing platform with a 22 mile (35 kilometer) gas evacuation pipeline to be tied into the existing infrastructure. The field, which was discovered in December 2010 and will deliver gas to the Malaysia Liquefied Natural Gas (MLNG) complex in Bintulu, Sarawak, is scheduled to commence production in the fourth quarter of 2017.

“I would like to thank PETRONAS and the SK310 JV (joint venture) partners for their efforts in getting the project to realization. The SK310 UGSA marks SKE’s first participation in a Gas Sales Agreement for East Malaysia,” Shahril Shamsuddin, president & Group CEO of SKPB, said in the press release.

SKE operates Block SK310 PSC, which was awarded by PETRONAS June 17, 2008, with a 30 percent interest. PETRONAS Carigali Sdn. Bhd. -- PETRONAS' upstream arm -- owns 40 interest, while Diamond Energy Sarawak Sdn. Bhd., a subsidiary of Mitsubishi Corporation, holds the remaining 30 percent.



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