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PETRONAS SIGNS PRODUCTION SHARING CONTRACT FOR BLOCK B-17-01 IN MALAYSIA-THAILAND JOINT DEVELOPMENT AREA
PETRONAS and PTT Public Company Limited of Thailand (PTT), through their respective subsidiaries, PC JDA Limited and PTTEP International Limited (PTTEPI) signed a Production Sharing Contract (PSC) for Block B-17-01 with Malaysia-Thailand Joint Authority (MTJA) in Kuala Lumpur today.
Block B-17-01 is located in the Malaysia-Thailand Joint Development Area (MTJDA), an offshore overlapping area between Thailand and Malaysia found with hydrocarbon resources. PC JDA Limited and PTTEP International Limited (PTTEPI) will each hold a fifty percent (50%) of the participation interest in the PSC. (more…)
PETRONAS EMBARKING ON MEGA METHANOL PROJECT
PETRONAS is embarking on a development of a new world scale methanol plant adjacent to its existing methanol plant in Labuan. The new plant will utilise Lurgi’s Mega Methanol technology and is scheduled to commence operations by the end of 2007.
The new plant will have a production capacity of 1.7 million tonnes per annum or 5,000 tonnes per day. Feedstock of about 150 million standard cubic feet per day of gas will be supplied from the gas fields offshore Sabah. The development of the plant will also provide job and business opportunities especially for Sabahans. (more…)
PETRONAS-SHELL JOINT VENTURE STRIKES GAS AGAIN
CS Mutiara Petroleum Sdn Bhd, a 50:50 joint venture between PETRONAS Carigali Sdn Bhd and Shell Malaysia Exploration & Production, has made another gas discovery in Block PM301, offshore Peninsular Malaysia.
The Bunga Zetung-1 well, spudded on 9 July 2004, was drilled to a total depth of 1,876 metres and encountered four gas zones with estimated recoverable reserves of 0.2 trillion standard cubic feet, subject to further technical evaluation. (more…)