ExxonMobil and PETRONAS Carigali advanced the development of the Bintang Field under the terms of the GPSC to meet increasing national demand for gas on the Malaysian peninsula.
Terry Koonce, president of ExxonMobil Production Company, said the Bintang project is another successful collaboration between the co-venturers in meeting Malaysia's medium and long-term energy needs. "ExxonMobil is committed to ensuring reliable gas supplies to Malaysia, and to utilizing international best practices to enhance its local operations," stated Koonce. "For the Bintang development, advancing the project required innovative solutions to maximize the economic value of the field."
Koonce also noted that Bintang is yet another example of the benefits derived from ExxonMobil's industry-leading technology and project execution practices. "Our objective at Bintang and worldwide is to continue to leverage our worldwide experience to dramatically lower costs while increasing production potential," Koonce said.
The project, which required more than one million work hours to complete, was executed without a single lost-time injury to workers. Total project development cost is estimated at approximately (US) $80 million excluding drilling costs. A total of 10 wells are planned to be drilled this year.
Exxon Mobil Corporation, through its Malaysian Upstream affiliate, ExxonMobil Exploration and Production Malaysia Inc., is the largest crude oil producer in Malaysia and supplies two-thirds of Peninsular Malaysia's natural gas needs, producing approximately 280,000 barrels of oil (kbd) per day and 1.3 billion cubic feet of gas (bcfd) per day.
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