Sapurakencana & Petronas Reach Agreement for Cessation of Berantai RSC

Source: www.gulfoilandgas.com 7/11/2016, Location: Asia

SapuraKencana Petroleum Berhad would like to announce that its wholly-owned subsidiaries, Sapura Energy Ventures Sdn. Bhd. and Kencana Energy Sdn. Bhd. and their partner, Petrofac Energy Developments Sdn. Bhd., have reached a mutual agreement with Petroliam Nasional Berhad (PETRONAS) for the cessation of the Berantai Risk Service Contract (RSC).

The Berantai RSC was signed on 31 January 2011 with PETRONAS and was the first RSC awarded by PETRONAS. It is for the development and production of petroleum from the Berantai field, located offshore Peninsular Malaysia. Participating interests in the Berantai RSC are held 25% by Sapura Energy Ventures Sdn. Bhd., 25% by Kencana Energy Sdn. Bhd. and 50% by Petrofac Energy Developments Sdn. Bhd.

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. As part of the arrangement, the ownership of Berantai FPSO will be transferred to PETRONAS.

“We continue to support PETRONAS in its efforts to reduce costs and optimise its operations with a view of preserving the long-term value of the project. We would like to thank PETRONAS for giving us the opportunity to demonstrate our capabilities to construct and install an integrated facility for the Berantai field. Together with our partner, we have managed to operate the facilities over the past 4 years safely.“ said Tan Sri Dato’ Seri Shahril Shamsuddin, President and Group Chief Executive Officer of SapuraKencana Petroleum Berhad.


Trinidad and Tobago >>  6/27/2022 - Onshore Trinidad's Ortoire block is where Touchstone Exploration Inc. ("Touchstone" ) (TXP) provides an update on operational progress. The Ortoire bl...
United Kingdom >>  6/23/2022 - Highlights:
• Anning and Somerville gas field development classified as Reserves following an independent Technical and Commercial Audit conducte...


Morocco >>  6/22/2022 - Chariot (CHAR), the Africa focused transitional energy company, announces its audited final results for the year ended 31 December 2021. ...
United Kingdom >>  6/21/2022 - Union Jack Oil, a conventional onshore hydrocarbon production, development, and exploration business based in the United Kingdom, has released details...

Canada >>  6/16/2022 - - 2022 guidance increased to an average production range of 31,500 to 32,500 boe/d based on expanded capital development program
- Second half 2...

Romania >>  6/15/2022 - Black Sea Oil & Gas SA (“BSOG”) together with its co-venture partners, Petro Ventures Resources SRL (“Petro Ventures”) and Gas Plus Dacia SRL (“Gas Pl...

Related Categories: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  Food Supplies  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Unskilled Labors  Utility Systems  Waste Disposal  Water Supply Services  Welding Products/Services 

Related Articles: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Utility Systems  Waste Disposal  Water Supply Services  Welding Products/Services 


Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.